EURUSD Weekly Forex Forecast 1st December to 7th December by yshashmi37 on

Midterm forecast:

While the price is above the support 1.1180, beginning of uptrend is expected.
We make sure when the resistance at 1.1530 breaks.
If the support at 1.1180 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

There is a divergence in RSI and price between the trough at 1.13005 on 2018-08-15 and the trough at 1.12155 on 2018-11-12, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI bounced from the uptrend #1 and it prevented price from more losses.
The RSI downtrend #2 is broken, so the probability of beginning of uptrend is increased.
While the RSI resistance #3 at 62 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 1.1400 on 11/29/2018, so more losses to support(s) 1.1300 and minimum to Major Support (1.1180) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 44.

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