Euro Dollar exchange rate

Euro Dollar exchange rate forecast

Euro Dollar exchange rate forecast October 2022

Euro Dollar exchange rate forecasts analysis and dynamics of the short and long term trend through Stock Market cycles of the economist William Gann.

Euro Dollar chart and technical framework

Euro Dollar forecast today

At the end of the lateral period at the beginning of 2022, the Euro Dollar market resumed the corrective trend.

In the short term, it can be observed how the descending dynamics of prices is contained within a channel formed with 1×1 angles and how the various swings coincide with the static and dynamic supports (technical framework just above).

In particular, the week of February 25, April 1, June 17, August 26 and September 16 coincided with different Natural and Dynamic temporal cycles, as we have described in detail in the previous reports.

In these temporal periods we have observed the negation of the various short-term pull-backs, with the Euro touching lower lows, reaching a low of 0.9534 in the last week of September.

The last Set Up Weekly in progress coincides with the current week of 07 October 2022.

Although we have seen a bullish break of the previous top at 0.9850, the close is weak.

Therefore, if in the week of October 14, the prices break down the low of the current week of October 07, we will have a new corrective inversion, with first supports in 0.9450-20 area.

Conversely, reaching 1.0030 will confirm the birth of a positive lateral phase, with first dynamic resistances at 1.0140-70.

Medium term Euro Dollar exchange rate forecast

Since the reversal of the swing chart in June 2021, caused by the expiry of the Maximum Square, the medium-term trend has remained corrective to this day.

In fact, the various temporal cycles, which have followed one another since the second half of 2021, have all confirmed the strengthening of negative yields, despite the various angular supports.

In September, the single currency prices reached the natural Drift at 0.98 and the minimum reached at 0.9534 coincides with the Zero 1×2 angular support, visible in the photo with a yellow ascending vector.

September 2022 coincides with the expiry of the Maximum Square.

The trend remains downward, but a return above 1.0230 would indicate the birth of a new medium-term propulsive phase with first targets 1.0350; 1.05.

While the supports are placed in 0.9460 area.

Eur/Usd quarterly trend

The long-term trend is negative and the next supports are at 0.9250.

The Natural price/time is 1.0170 for this last quarter of 2022, in the area of ​​the static octave and the 2017 lows.

Forex trading and Euro Dollar signals

This report was derived from the theory of the American economist W.D. Gann.

The forecast dynamics are based on a linear mathematical-geometric model that provides for the correlation of two dimensions, namely that of price and that of time.

He considered the third dimension relating to trading volumes separately.

Through this scientific model, Gann was able to identify the Drift of the listed stock and the Variance Rate.

His studies focus mainly on investigating the temporal dimension, which he considered the most important compared to the other two.

The results achieved in decades of research allowed him to understand which are the Natural and Dynamic cycles that periodically influenced the price-time ratio of the market.

Within these cycles it was possible to identify particular sections called Set Up in which to observe the major changes in the Stock Market.

The Top Trader© software available through this blog was created to apply the Gann technique in a simple and correct way.