April 15 - 19 Our Weekly Forecast EUR/USD with technical analysis

Hello every one, today we are looking on the EUR/USD currency pair after flat on the hourly time-frame  Before this material we published information about strong Resistance in the level = 1.3100. But later price of EUR/USd pair with strong movement go up to level 1.3200. So, next level of Resistance will be 1.3200 and after that level of support will be 1.2988 And if price of EUR/USD will break resistance 1.3200 it can go up to level 1.3350 or higher.

Our opinion about future movement on the EUR/USD on April third week.

Technical analysis:
Bollinger Band technical indicator:
Bollinger Bands show us that this uptrend can be continue because channel from lowers and highers levels has same distance like a around 100 pips. When price is strong growing up from April 4 we so uptrend as a first wave and right now we see not finished creation second wave.

Channels and other indicators of technical analysis. 

Theory of Waves by Elliot.
First wave how we think began from April 4 and finished  April 11
Second wave began from April 11 and finished April 15.
Third wave probably will be created after finished second wave on the level of currency pair equals 1.3030 We will expect 5 waves model of trend.

SMA
All our simple Moving Averages still under price of EURUSD and it is good for us and for other Traders, who open positions to BUY this currency pair. Remember you we used Simple Moving Averages with period SMA 5 SMA 21 SMA 55 SMA 89

The indicator of Technical analysis Murray Match shows that price is under red lines, almost finished for uptrend. By this indicator price of Euro to US Dollar can move up only to level 1.3245, not higher, because all maximal lines end of this level.

We think that uptrend will continue move only to April 18, but in this period of time if price will grow up, it can up to 1.3480

Alternate rout card for EURUSD - will be move down to 1.3030, and after that again growing up.
We did not find right now Divergence on the MACD that told us that we expect profit from our orders to BUY.

The Zig-Zag indicator shows us created first and second wave by Fractals and open another order to Buy with profit. After this strong movement needs for chart eurusd small correction for continue move.

MACD is still cross price of EURUSD and it is over Zero point. That is another proof our opinion about uptrend after flat. You can see chart on the real time here 

How we discussed earlier here Golden- rules-of-day-trading-strategies Do not open opposite order for Sell if your order was closed by Stop-loss on the uptrend.   Better if you will open same order with higher protection, for example with distance 100 pips and lower lot. We hope help you to find right decision about trading on EURUSD in this Difficult time. For this moment traders opened positions on this pair in 60/40 and 30% have open orders of all deals on the Currency pair Euro to US Dollar.
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