EURUSD Forecast – $1.19000 as a Possible Sell Entry

by Mar 27, 2021Setups3 comments

EURUSD Forecast

EURUSD chart analysis 

As I said in the previous weekly analysis if the price breaks below $1.19000 and closes on a daily time frame  it will probably move down.

And that is what has happened in the last week.

On Tuesday the price has strongly broken below $1.19000 which was a sign of bears strength. Monday was only a day when buyers entered into the market with small volume after which they were wiped out by the sellers.

The whole week was bearish up to Friday when the price moved slightly up because of the end of the week and some of the sellers cashing out and taking profits.

EURUSD Daily Forecast 27_03_2021

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EURUSD Chart Forecast

On the start of the next week we will see traders that have cashed out at the end of the week entering again into the market pushing the price even more down.

Before doing that we could see the price moving slightly up to $1.18300 which is H4 resistance. From there the price could find more sellers waiting to enter and push the price down to $1.17000.

$1.17000 is lower end of the old range area so I am expecting to see the price first reaching $1.17500 and then reversing back up to around $1.19000. This could be a nice opportunity to catch the selling wave down to $1.17000.

$1.17000 is not so strong support and if there would be a strong selling pressure the bottom of the selling pressure will be at $1.16183.

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If you want to know how much pips EURUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: EUR/USD Pip Range Analysis

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The Forex market is not easily predictable and we need to prepare our self for bullish or bearish scenario. Risk management is crucial in Forex trading so play safe and set stop loss.

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Frano Grgić

Frano Grgić

A Forex trader since 2009. I like to share my knowledge and I like to analyze the markets. My goal is to have a website which will be the first choice for traders and beginners. Market analysis is featured by Forex Factory next to large publications like DailyFX, Bloomberg... GetKnowTrading is becoming recognized among traders as a website with simple and effective market analysis.

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3 Comments

  1. Usha Sharman

    Good analysis

    • Frano Grgić

      thanks

      • dev Chaudhary

        hello sir
        who to go for EUR/USD
        low this weeks 1.16000

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