EURUSD Forecast – $1.21800 With a Bullish Sign

by May 29, 2021EURUSD Forecast

This week was really messy where the price could not stay on one course, but it jumped up and down.

The week started with a bullish scenario at the $1.21800 with the target at around $1.22800.

Price reached $1.22660 and then reversed back down to $1.21800.

The strong support which I have mentioned last week has stopped the price from falling down, but the price formed a strong bullish Pin bar. That was a sign of a strong bullish market scenario which will probably end up reaching new highs.

EURUSD Daily Forecast 29_05_2021

The best Harmonic scanner

From $24.99 / month

8 Harmonic patterns

9 Standard patterns

Web based platform

Real time notifications 

EURUSD Chart Forecast

The price is currently on a strong support where we have a confluence of support levels.

We have an uptrend line which is combined with a horizontal support line and we have a bullish Pin bar formed at the right place.

With these three bullish signals I am very open for a bullish scenario next week.

First target is $1.22800 which is now a strong resistance that must be broken so the price can create its new highs. As the market now looks I am open to see the price reaching $1.22800 and then retrace around $1.22300 and then breaking higher above $1.22800. The next resistance is at around $1.24000.

I cannot really see the price below $1.21800, but the market can do everything so the first support below $1.21800 is $1.20800. The price could make another leg down before moving higher and that leg could reach $1.21400 which is less significant support.

Entry EURUSD: If you want to see how to play this scenario join G-Trader

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

Trading Analysis Bonus

I am sharing trading analysis each week.

It is free and if you want to receive e-mail notification, sign up.

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

“Disclosure: Some of the links in this post are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. This does not cost you anything extra on the usual cost of the product, and may sometimes cost less as I have some affiliate discounts in place I can offer you”

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.

Beginners Online Course

Check the best online trading course for beginners

Beginners Online Course

Check the best online trading course for beginners


For beginners who does not know how and where to start with trading

In the workshop I will tell you

what steps to do in order 

to transform yourself into a trader

EURUSD Forecast – $1.03920 Still the Target

EURUSD Forecast – $1.03920 Still the Target

EURUSD Analysis TodayPrevious EURUSD forecast talked about $1.03920 as a target and price reached that level on Monday. The strong bearish candle reached demand zone around $1.03820. That move confirmed strong bearish sentiment that has started with two strong bearish...

read more
EURUSD Forecast – $1.03920 Target

EURUSD Forecast – $1.03920 Target

EURUSD Analysis TodayPrevious EURUSD forecast talked about $1.06736 that needs to hold if we want to see the price on higher levels. The price returned to $1.06736 and formed a bullish Pin bar on daily time frame. The price moved higher and reached a $1.07825 supply...

read more
EURUSD Forecast – $1.06736 Support That Needs to Hold

EURUSD Forecast – $1.06736 Support That Needs to Hold

EURUSD Analysis TodayPrevious EURUSD forecast talked about price targeting $1.08300 which is close to the monthly triangle support line. But, the price could not break above $1.07825 resistance level. The price reached $1.07825 resistance and made a retrace back down...

read more


Pin It on Pinterest

Share This