EUR/USD Weekly Forecast

This/Next Week Forecast (January 4 – 8, 2021)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 1.2310, which will be followed by reaching resistance level 1.2555.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1.2155, which will be followed by moving down to support level 1.2010 and if it keeps on moving down below that level, we may expect the market to reach support level 1.1880.

Chart EUR USD This/Next Week Forecast, Technical Analysis

previous week forecast
Chart EUR USD This/Next Week Forecast, Technical Analysis

The Most Important News Of This Week

Monday
EU – Manufacturing PMI
US – Manufacturing PMI
Tuesday
US – ISM Manufacturing PMI
Wednesday
EU – Markit Composite PMI
US – ADP Nonfarm Employment Change, Markit Composite PMI, FOMC Meeting Minutes
Oil – Crude Oil Inventories
Thursday
EU – Core CPI, ECB Monetary Policy Statement
US – Initial Jobless Claims, ISM Non-Manufacturing PMI
Gas – Natural Gas Storage
Friday
EU – Unemployment Rate
US – Nonfarm Payrolls

Fundamental Analysis

Difference between US – EU manufacturing and interest rates showing fair price on the level 1.12.

EURUSD fundamental analysis, US - EU PMI

Monthly Forecast, January 2021

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 1.2310, which will be followed by reaching resistance level 1.2555 and 1.2800.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1.2010, which will be followed by moving down to support level 1.1600.

Chart EUR USD Forecast 2020, Long-term Outlook, Technical Analysis

previous forecast

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