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EURUSD Forecast Week of 18-22 September

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  #1  
Old 16-09-2017, 11:51
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Default EURUSD Forecast Week of 18-22 September

EURUSD Forecast Week of 18-22 September

EURUSD parity stuck between solid points of support and resistance. On the top-side, we have strong long-term resistance by way of the 2012 low (two reversal days – 8/29 & 9/8 – as evidence of sellers), while on the bottom-side lies the trend-line rising up from April in confluence with support around 1.08200.

It seems that the direction of the EURUSD movement will become clear after this week’s FOMC meeting.

Technically EURUSD Forecast


On weekly EURUSD Chart, we see that the price tested 1.18300 Fibonacci Retracement 61.80% of the downside movement started May 2014. This level is very important support for EURUSD. Breaking out this support may carry the price 1.16500 levels.

An important detail appears on the weekly chart. RSI divergence which indicates a bullish movement.
We can see the same RSI divergence on Daily EURUSD chart. EURUSD price is above Moving Averages 50 and 12. Stochastic Oscillator mix but looks bullish.

Price closed the week at 1.19400. In short term, it is important to make closings above 1.19100 for the continuation of upside movement.

Uptrend channel is very clear. We believe that EURUSD will test 1.20800 soon. This is an important resistance for the parity and breaking out of this level will confirm us 1.22300 and 1.24500. However, we will be keeping eye on 1.18400 support.
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  #2  
Old 05-10-2019, 17:36
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Default Re: EURUSD Forecast Week of 18-22 September

The market closed at 1.0980 and remains bullish for now, we will likely see a breakout above 1.1000 next week.
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  #3  
Old 06-10-2019, 15:36
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Default Re: EURUSD Forecast Week of 18-22 September

The market will open again soon, I think we will likely see another move north.
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  #4  
Old 08-10-2019, 16:19
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Default Re: EURUSD Forecast Week of 18-22 September

I thought EUR/USD would rally, but the shooting star below 1.1000 it formed yesterday on the daily time-frame is making me suspicious that the move north may be over after all.
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  #5  
Old 09-10-2019, 16:29
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Default Re: EURUSD Forecast Week of 18-22 September

EUR/USD continues testing 1.1000, I would recommend not to trade this pair until we see a proper breakout or a move to the downside.
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  #6  
Old 10-10-2019, 16:53
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Default Re: EURUSD Forecast Week of 18-22 September

The move north finally continues! EUR/USD broke out above 1.1000 and I think we will see it rally toward 1.1050 - 1.1060.
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  #7  
Old 11-10-2019, 16:04
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Default Re: EURUSD Forecast Week of 18-22 September

The move north continues and EUR/USD did reach 1.1060 but it is yet to break out above it. Next week we may see it rise to 1.1100 and above.
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  #8  
Old Yesterday, 14:02
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Default Re: EURUSD Forecast Week of 18-22 September

It looks like EUR/USD may pull back from 1.1060 and depreciate back to 1.1000 before it begins rallying again.
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  #9  
Old Today, 17:56
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Default Re: EURUSD Forecast Week of 18-22 September

EUR/USD is still developing around 1.1030, but the move north will likely continue. Let's see whether it will rally above 1.1100.
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