Monthly chart
Last review
EUR/USD Forecast- The price has corrected the last downtrend which started on the 1.5000 price level (red broken line) towards the 38.2% correction level by reaching the 1.3150 price level and immediately went back under the 1.2890 resistance level while leaving a long shadow upwards. Breaking of the 1.2200 price level will probably lead the price towards the last low on the 1.1877 price level. On the other hand, breaching of the 1.3150 price level will continue the uptrend towards the next Fibonacci on the 1.3500 price level.
Current review for today
EUR/USD Forecast- It is possible to see that that the price has checked again the 1.3150 price level, which is used as a 38.2% Fibonacci correction of the last downtrend marked with red broken line and cannot pass it. In addition, the price is located under the Bollinger’s moving average which shows a bearish market. Breaking the 1.2200 price level will sign that in first stage the price will make its way towards the last low on the 1.1877 price level. On the other hand, breaching of the 1.3150 price level will continue the uptrend towards the next Fibonacci on the 1.3500 price level.
You can see the chart below:
Weekly chart
Last review
EUR/USD Forecast- Another week has passed while the price is still ranging between the 1.2910 and the 1.3150 price levels. Breaching the 1.3150 price level will probably lead the price to the 1.3486 price level which is a 50% Fibonacci correction of the downtrend marked with black broken line. On the other hand, descend of the price under the 1.2910 price level will probably lead the price to a correction in size of between a third and two thirds, meaning between the 1.2470 and the 1.2740 price levels, of the last uptrend which started from the 1.2042 price level.
Current review for today
EUR/USD Forecast- The price still moves around the 1.2900 area and currently it looks like it is making its way towards the 1.2740 price level, which is a 38.2% technical correction by Fibonacci of the last uptrend which started on the 1.2042 price level and marked with blue broken line. Breaking of this level will probably lead the price towards the next Fibonacci on the 1.2580 price level which also used as a support level. On the other hand, stoppage of the price at the current area and breaching the 1.3150 price level will continue the uptrend towards the closest Fibonacci which is also used as a resistance level on the 1.3486 price level.
You can see the chart below:
Daily chart
Last review
EUR/USD Forecast- It is possible to see the range between the 1.2824 and the 1.3172 price levels with more details while currently the price is located in the middle of this range. Stoppage of the price at the current area and breaching the 1.3172 price level will probably lead the price towards its first target on the 1.3280 price level. On the other hand, only breaking the 1.2824 price level is suppose to lead the price to the 1.2750 price level which is a significant level since it is a 61.8% correction of the last uptrend which started on the 1.2500 price level (blue broken line) and in addition it is used as a 38.2% Fibonacci correction which started from the 1.2040 price level (black broken line) and a significant support.
Current review for today
EUR/USD Forecast- The uptrend which started on the 1.2040 price level has stopped on the 1.3172 price level and since then it has created three peaks while each of them is lower than the previous (small red arrows). In addition, it is possible to see that the price has breached the ascending trend line between the lows (black thin broken line) with a big red candle. Breaking the 1.2824 price level is suppose to lead the price towards the 1.2750 price level which is significant since it is used as a 61.87% correction of the last uptrend which started on the 1.2500 price level (blue broken line) and in addition is used as a 38.2% of the uptrend started on the 1.2040 price level (black broken line) and a significant support level. On the other hand, only breaching of the 1.3000 price level together with breaching the ascending trend line and being supported by it will continue the uptrend with first target on the last peak, the 1.3172 price level.
You can see the chart below:
