EURUSD Forecast – First $1.21800 and then $1.22800

by May 15, 2021Setups

The price has done what was discussed in last week’s analysis. The price touched $1.21800 and returned back down to $1.20800.

Around $1.20800 the price spent some time until it found support for the next move up.

The support the price found is on the previous two weeks low which confirmed that the buyers are holding the price from falling further down.

On a Friday we can see a strong bullish candle which has a day close above two weeks’ candles high which means the week has confirmed it will move up.

EURUSD Daily Forecast 15_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

As the price has managed to close higher than previous candles two weeks ago this looks promising for the buyers.

The $1.21800 is close and I am expecting it will break above. Weekly time frame shows me a clear bullish scenario with a $1.22800 target.

It will take some time for the price to brake above $1.21800 and then to confirm support at that level. That means I am expecting the price to break above and then retrace back to $1.21800 before reaching $1.22800.

The price needs to find solid support before moving higher because the $1.22800 level is not an easy level. It is a level that prevented the price from moving higher two times since the end of last year.

In this situation I am open for bullish opportunities around $1.21800 when the price retrace after the breakout.

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 our self for 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 – Bullish Sentiment in Creation

EURUSD Forecast – Bullish Sentiment in Creation

EURUSD Forecast EURUSD chart analysis What we can see on the chart compared to the previous week analysis is that the price had a retrace back to previous range area and from there found support for the next move up. Week started with the bearish candle and reached a...

read more
EURUSD Forecast – $1.14748 First Target

EURUSD Forecast – $1.14748 First Target

EURUSD Forecast EURUSD chart analysis Last two weeks the EURUSD price was in the range between $1.12350 on the bottom side and $1.13600 on the upper side. The price was making its way up every few days and had stopped for a while close to the downtrend channel. The...

read more