Euro Dollar forecast strategy Forex using the technique of W.D. Gann

eur usd forecast today
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Euro Dollar forecast Forex strategy

 Euro Dollar forecast Forex strategy through the time cycles of W.D. Gann.

Eur Usd forecast today

Euro Dollar weekly 07.24.20

Euro Dollar Forex strategy forecasts in the short term

We have observed in the period of March 2020 an important change in the dynamics of Euro Dollar currency cross.

In the previous articles we have indicated the temporal signals of the weeks of 6th and 13th March as the start of a new ascending phase that would have changed the trend compared to the previous months.

From a substantial negative laterality, the Forex market has started a new positive season.

Upon reaching the 1X4 angular resistance descending in 1.15 area, the trend has clearly reversed directionality, reaching 1.0636 level in the week of 20th March.

However, in the period between April and May, the European currency, consolidating 1.08-1.10 area with a long lateral phase, has laid the foundation for a subsequent bullish upsurge.

The subsequent weekly Sets Up between the end of May and June, indicated in the previous reports, have showed how the new positive trend of Euro was starting to restart.

When prices returned to the previous dynamic resistance in mid-June, at 1.1350, the market has again consolidated the previous recovery area, with a laterality below this angular vector, radiated by software in violet.

The bullish rupture, during the weekly Set Up of 10th July 2020, has given a clear signal of strength in the single currency, leading to the end of the laterality, breaking upwards this dynamic obstacle in the following week and accelerating in the week of 24th July arriving at a new relative top to 1.1658 level.

Although there may be some short negative retracements due to liquidations of positions, the trend is structurally positive with first targets at 1.18-1.20 level.

We have observed in the short video the next resistances and angular supports and the management of a portfolio with the Gann’s technique and Call and Put options.

Euro Dollar exchange rate monthly trend

eur usd forecast
Euro Dollar monthly july 2020

The first signal of medium term expired this year it was in March 2020.

We have observed in fact the formation of a bearish out-side, where the positive pull-back has been rejected by descendant angular resistances with the top level in May 2014 and February 2018.

However, the 1X1 and 1X2 Zero angular supports, visible on the slide in red and yellow, have completely absorbed the negativity present to allow the reverse of the positive trend in June.

The signal within the third quarter is July 2020.

As we can see, the dynamics of the European currency has continued the positive phase, breaking angular resistances.

The Euro Dollar report of analysis and forecasts has been achieved thanks to the Stock Market Software Top Trader©.

 

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