eur usd forecast

euro dollar monthly 06.2020

Euro Dollar exchange forecast today

Euro Dollar exchange forecast today in the short and medium term through the cyclical analysis of the American economist W.D. Gann.

Euro Dollar short-term exchange trend

During the important Forex Signal, which expired in the first quarter of 2020, the Euro Dollar has changed the evolutive perspectives of the trend compared to the previous period 2018 – 2019.

In previous reports we have repeatedly indicated how in March the dynamics of the European currency would have ended the negative laterality that has characterized in particular the second and third quarters of 2019.

In fact the short term weekly time cycles, expired between 6 to 13 March, have provoked an immediate change in the price-time and volatility, resulting in the achievement of area 1.15.

As we can observe in the slide just above, the 1X4 descending angular resistance has rejected the first bullish attack of Euro, causing a strong negative retracement of prices.

The strong negative trend released in the following week, that of March 20^th, has brought the exchanges below the starting minimum and more precisely to 1.0630.

The strong negative shock has brought the evolution of the trend sideways for the entire period between April and late May.

In previous articles, in fact, we have highlighted how the competing forces that determine the directionality of prices, created by various time cycles, have alternated between the end of May and June.

The last weekly Set Up expiring for this month coincides with the week of 29^th June 2020.

We observe in the video what the short-term trend will be based on the indication of this time signal with the various supports and angular resistances.

Euro Dollar medium-term analysis

As it is clearly visible in the photo just above, in the month of March 2020, all the negativity of Euro Dollar has been reabsorbed by the 1X1 and 1X2 Zero angles, represented by ascending red and yellow vectors.

The 1X8 and 1X16 angular supports with origin January 2017, represented with blue angles, also have provided good dynamic support.

The effects of March monthly signal are clearly visible, given the formation of a bearish outside .

The positive trend, which is gradually forming, still suffers from the rejecting effects of the 1X4 descending angular resistances, highlighted by the program with the purple color.

However, the expiration of a new medium-term time signal, that will characterize the entire summer trend of the European currency, is now close.

In this article the technical support of the Top Trader© software has been used to analyze Euro Dollar trend with Gann’s technique.