Euro Dollar exchange rate forecasts with trading signals July 2024

Euro Dollar forex signals today

Euro Dollar exchange rate forecast today

Euro Dollar exchange rate forecasts with short and long term Forex signals using WD Gann economic cycles.

Weekly Eur/Usd chart with technical overview

euro-dollar exchange rate forecast today
euro dollar weekly 13.06.24

Short-term Eur/Usd forecasts with weekly signals

As has been described several times in previous reports, the short-term dynamics in the Euro Dollar market is lateral, with alternating positive and negative laterality.

As can be seen from the slide above, the pull-back phase that began in mid-October last year peaked at the price-time ratio expressed by the descending 1X4 angle .

This vector radiated in purple in the week of 29 December 2023 and generated the top of the upward movement at 1.1139.

In the set-up weekly of 05 January 2024 the European currency began a gradual downward movement that led the quotations to touch a low of 1.0599 in the week of 19 April.

The week of 19 April coincided with a Square Maximum and as indicated in previous articles, with the bullish violation of 1.0720, the Euro showed a new phase of positive laterality.

The next Euro Dollar Forex signals coincide with the weeks of 21-28 June 2024.

For quotations above 1.0940 the Euro will indicate the continuation of the positive laterality with dynamic resistances in the area of 1.0940; 1.0985; 1.1030.

A return below the level of 1.0680 will confirm the weakness of the Euro, which will have its first corner supports in the 1.0630; 1.0580 area.

Euro Dollar Monthly Trend

Euro Dollar Forecast 2024
euro dollar monthly 13.06.24

n the medium-term trend, the sideways trend is even more pronounced.

The dynamic resistances consisting of the descending 1X4 angles in purple on the picture above have repelled the single currency’s various attempts to accelerate the recovery phase.

In July 2023, December 2023 and March 2024, the euro attempted to break the indicated corner resistances to the upside without succeeding.

However, the corrective phases that arose as a result of these failed bullish breaks were blocked by both the Zero 1X2 angle radiated in yellow and the static octave levels.

In the month of June 2024, the quotations of the Euro broke to the upside the previous Monthly Set Up of April 2024, testifying to the will to definitively break out of the 1X4 resistances just described.

However, new blocks present themselves to the recovery phase and they are very close, namely the area of 1.0980; 1.1070.

A return below 1.0570 will indicate new negative action.

Corner supports with new Zero 1X2 angle and 1X3 angle are in the 1.0620 area.

Euro Dollar exchange rate quarterly forecast

Long-term technical analysis Euro Dollar
euro dollar quarterly 13.06.24

The long-term trend is negative, due to the stock market signal of the last quarter of 2023.

The bearish break has not been recovered, although the closures are close to the descending angular resistances.

A return below the level of 1.0410 will confirm the negative correlation of yields: first supports in the area of 1.0270; 1.00.

Reaching 1.1170 will show the European currency’s attempt to establish a new progressive phase.

The trend analysis on the Euro Dollar in the short and long term was published following the technique of WD. Gann and using the Top Trader(c) stock exchange software.

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