Euro Dollar forecast today with the cycles of W.D. Gann short medium term


Euro Dollar forecast today technical analysis through Gann cycles

Euro Dollar forecast today European currency dynamics with the US Dollar using the technique of the American economist W.D. Gann.

euro dollar forecast 2020
euro dollar weekly 06.12.20

Euro Dollar forecast and cyclical analysis in the short term

The first months of 2020 has marked an important turning point in Euro Dollar dynamics.

We have observed a negative sideways trend throughout 2019 in which daily yields have gradually thinned, leading the European currency to test the minimums of implied volatility up to a historic record of 3.5%.

In previous articles we had highlighted how the concomitance of some time cycles expiring last October would have determined the change of pace due to the Euro dynamics, which would have had to get out of the static to take a new and more directional evolution of the trend.

Although between October and December there was this partial attempt, the driving force it wasn’t strong enough to win the 1X4 descendant angular resistance with origin in September 2018 and January 2019, as illustrated in photos from the early purple vectors from below.

The second attempt of bullish infraction of such resistance has occurred during the weekly Set Up of 13-20 March.

In that circumstance, the price-time of the single currency has undergone a progressive evolution of four times its natural drift, which has led the changes to overcome these first dynamic obstacles to project themselves on the 1X4 new angular resistances descending in 1.1350 area.

However, the corrective force generated by these obstacles has brought the changes below the minimum of the week of February 21st, restoring a new congested lateral negative phase in the short term.

As we can observe on the slide, all the weekly candles from April to the end of May has alternated again the highs on the previous angular vectors.

The new weekly Set Ups expiring at the end of May and in June have triggered a powerful upward phase again, which has brought prices back to 1.1350-1.4 area for the second time on angular resistance.

We can observe in the video just below what will be the price-time targets for the week of June 19th, with the various dynamic supports and resistances.

A portfolio of investments in the Euro Dollar market is also shown.

Euro Dollar medium term trend

euro dollar forecast today
Euro Dollar monthly 06.12.20

The Euro Dollar directional trend has started in the last monthly Set Up of March 2020.

The Zero angle has reabsorbed the negativity of the bearish outside and has maintained an important support last April and May.

Despite the  new negative trend, we had highlighted how, despite the volumes were low, the Open Interest has grown gradually.

This circumstance has confirmed the bullish break in short-term time cycles and the birth of the new positivity in the medium term.

Next Set Up in July 2020 and next resistance at 1.1440.

Euro Dollar trend and forecasts are illustrated thanks to Top Trader © Stock Exchange software.


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