Euro Dollar Today Forecasts Technical Analysis Forex Signals 2024

euro dollar forecast

euro dollar forecast

Euro Dollar today exchange rate forecasts from short to long term

Euro Dollar today exchange rate forecasts using WD Gann time cycles.

Euro Dollar exchange rate weekly forecasts

The price dynamics of the Euro Dollar market have been evolving within a side band since the week of 21 July 2023.

In fact since this last week, the Euro that had touched a top at 1.1275 gradually lost value until it reached a low at 1.0447 in the week of 06 October 2023.

The 1X2 angular support visible in yellow in the picture generated the emergence of a new pull-back, together with the expiry of the weekly time signals of 13 and 27 October 2023.

Since those weekly set-ups the Eur/Usd market has resumed its uptrend with a new gradually increasing propulsive force, which brought the quotations back to the subsequent angular resistances at 1.1140 at the end of last year.

Subsequent Forex signals expiring in the first weeks of January 2024 indicated the emergence of a new weakness in the trend.

Indeed, the European currency gradually lost value until it reached the 1X3 and 1X4 dynamic supports at 1.0670 in the week of 19 April 2024.

With the expiration of the Maximum Square in the week of April 19, the Euro Dollar trend started to grow again, but it was the expiration of the Minimum Square on July 26 that generated an important change of pace.

In fact, in the following week of 02 August we saw the configuration of a bullish out-side followed by a series of rises that pushed the quotations up to today’s week of 23 August at 1.1174.

This temporary top was formed by the 1X16 dynamic resistances plotted in blue on the picture above.

The next time signal coincides with the week of 30 August.

For prices above 1.12 the positivity of the Euro will be confirmed with next targets in the 1.1350 area.

While the return below the level of 1.0990 will indicate the continuation of the negative sideways action: supports in the 1.0970 area; 1.09.

Euro Dollar trend in the medium term

The sideways dynamic of the Euro Dollar is also clearly visible in the medium term.

The various attempts to initiate an upward recovery of the quotations from July 2023 to July 2024 were always repelled by the descending 1X4 angles, drawn in purple in the slide above.

However, during the monthly set-up in August 2024 this descending vector was sharply pierced to the upside and the single currency quotations came to a halt in the area of the next corner resistances, 1X8 plotted in blue.

The Square of Maximum expired in August is therefore the Forex signal to understand if the laterality has come to an end.

If prices reach 1.0740 in September then a new medium-term negative sideways trend will be re-established: supports in the 1.0810 area.

Resistance in the 1.14 area.

Quarterly Euro Dollar Technical Analysis

The long-term trend has turned positive after three quarters of uncertainty.

Prices are touching important 1X4 descending resistances in the 1.1050; 1.1250 area.

Only with the return below 1.0570 will the long-term phase reverse in a negative direction.

The analysis of the Euro Dollar in this report has been described using the technique of WD. Gann technique and with the use of the Top Trader(c) stock exchange software.