Results of Previous Forex Forecasts
EUR/USD
- Sell: 1.06542
- Stop Loss: 1.06061
- Take Profit: 1.05057
and
- Buy Stop: 1.06459
- Stop Loss: 1.05654
- Take Profit: 1.0832 (estimated target)
The sell trade closed at Stop Loss and generated a profit of 470 pips.
GBP/USD
- Sell Limit: 1.51519
- Stop Loss: 1.53338
- Take Profit: 1.48983
and
- Sell: 1.50658
- Stop Loss: 1.53338
- Take Profit: 1.48983
Correction, presumably, has ended, and we expect a continuation of the decline today.
EUR/GBP
- Sell (from current): 0.70411
- Stop Loss: 0.70765
- Take Profit: 0.69557
Cross pair did not overcome yesterday’s minimum, so the marking was revised. We recommend closing the sell trade; we have locked in a loss of 45 pips.
Forex Forecast for EUR/USD on December 2
- Buy Stop: 1.06356
- Stop Loss: 1.05652
- Take Profit: 1.08838 (estimated target)
Euro/dollar broke through the 131 MA (H1) yesterday and is currently consolidating above it. It is estimated that the downward trend has ended, and the next two weeks will see a correction up to the Federal Reserve meeting. If the rate is raised, the downward trend will continue; if not, we can expect a deeper correction up to the range of 1.1035 – 1.1144. A good signal for starting purchases is divergence on H4, so breaking yesterday’s local high gives a good buy signal (Buy Stop: 1.06356) with a target of 1.08838.
Forex Forecast for GBP/USD on December 2
- Sell Limit: 1.51519
- Stop Loss: 1.53338
- Take Profit: 1.48983
and
- Sell: 1.50658
- Stop Loss: 1.53338
- Take Profit: 1.48983
For pound/dollar, according to the main scenario, the correction has ended, and we expect confirmation of the downward trend today, which requires reaching the 161 Fibonacci level (blue marking on the chart) over the next two days. If the current price continues the correction, we will wait for the Sell Limit signal.
Forex Forecast for EUR/GBP on December 2
- Buy Stop: 0.70705
- Stop Loss: 0.69789
- Take Profit: 0.71685
Yesterday, euro/pound did not exceed the local minimum and also consolidated above the 131 MA on H1, so the marking was revised towards the start of the correction, as with euro/dollar. For confirmation of the correction, we expect a rise today and a further breakout of the 131 MA on H4. Breaking the local high from November 24 gives a good buy signal with an initial target of 0.71685.
Online Discussion of the Forex Currency Market
- Forex Analysis and Comments vol. 7
Forex Forecasts, Analysis, and Economic News
- Oil Price Forecast: Technical Analysis of WTI – CLx for December 2, 2015
- <a title=”127.00 – Target for EUR/JPY after the ECB Meeting” href=”https://fortraders.org/fundamental/12700-cel-po-eurjpy-posle-zasedaniya-ecb.html” target=”_
FAQ
What was the outcome of the previous EUR/USD sell trade?
The sell trade closed at Stop Loss and generated a profit of 470 pips.
What is the recommended action for the EUR/GBP trade?
The sell trade should be closed as the cross pair did not overcome yesterday’s minimum, resulting in a loss of 45 pips.
What is the key signal for buying EUR/USD according to the forecast?
Divergence on H4 is considered a good signal for starting purchases, with a Buy Stop at 1.06356 and a target of 1.08838.
