Eur/Usd stock market signals in the short and long term

Eur/Usd stock market signals in the short and long term

Short- and long-term Euro dollar forecasts

Euro Dollar forecasts, trend analysis with Forex signals using WD Gann time cycles

Weekly Euro Dollar Technical Chart

Euro dollar forecasts with weekly forex signals

Since the top of July 23, 2023, the Euro Dollar market has reversed trend maintaining negative sideways price dynamics to date.

Coinciding with the expiration of the July 21-28 weekly set ups, the European currency generated a major downward movement and that has produced negative returns for as many as 11 consecutive weeks.

In fact, despite the fact that various static supports slowed the single currency’s fall on several occasions, the corrective action did not end until the expiration of the October 13 and October 27, 2023 time cycles.

The new driving force generated by the time frames just described, in conjunction with the 1X2 ascending angular supports, plotted in yellow on the picture above, initiated a new ascending phase.

The new positive action of the Euro was structured in two distinct movements.

One related to the period Oct. 06 through Dec. 01: from 1.0447 the currency rose to 1.1017.

The second movement in the period Dec. 08 through Dec. 29, 2023: from quote 1.0827 the Euro reached 1.1139.

The last bullish phase was blocked by the descending 1X4 and 1X8 angular resistances, plotted in purple and blue.

Just during the expiration of the 52-week Natural Square in the week of January 05, 2024, the trend began to reverse again.

The Minimum Square that subsequently expired in the week of January 26 again confirmed the weakness of the Euro:

prices reached static support in the week of February 16, 2024 at 1.0693.

As just described and as evident in the slide just above, prices are alternating in a negative sideways phase.

The last Forex signal expires in the week of April 05, 2024, and the next one will expire on April 19, 2024.

Currently the trend is negative sideways and the next supports are in the area of 1.0730; 1.0590.

If prices go above 1.09 then the price dynamics will alternate into positive sideways with very first resistances in the area 1.0940; 1.0980.

Eur/Usd medium-term trend

The laterality of the Euro is even more evident in the monthly time frame.

From the top of the July 2023 Monthly Set Up made in conjunction with the 1X4 descending vectors plotted in purple, the Euro began a price descent, which was blocked by the Zero 1X2 corner plotted in yellow.

In fact, in October 2023, the Euro generated a near-zero return candle, closing at 1.0567 close to the 1X2 Zero corner support.

Although away was a slight pull-back the current quote is losing this support.

The last stock market signal coincided with the expiration of the Maximum Square in April 2024.

Currently the trend is negative and the first supports are in the 1.05 area.

However, reaching 1.1010 will indicate that the Euro is ready for a new bullish recovery: resistances in the 1.09 area.

Quarterly Euro Dollar Technical Analysis

The long-term trend remains negative, despite the bullish phase that characterized the period between Q4 2022 and Q3 2023.

During that period, trade moved from 1X16 angular support at 0.9534 to 1.1275 on the 1X4 descending resistance plotted in purple.

However, both Q3 and Q4 2023 indicated the conclusion of the technical rebound, which followed after as many as 5 quarters of correction between Q3 2021 and Q3 2022.

The first supports are in the 1.0290 area; 1.00.

Only the bullish break of 1.1170 will indicate the Euro’s attempt to resume a new long-term ascending phase: resistances in the 1.1050 area.

The article on the dynamics and forecasts of the Euro Dollar in the short and long term was illustrated through the Gann technique and with the use of Top Trader(c) software.