EUR/USD Weekly Forecast, September 21 – 25

Forecast For This/Next Week
(September 21 – 25, 2020)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1.1930, which will be followed by moving up to resistance level 1.2310.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1.1735, which will be followed by moving down to support level 1.1450.

Chart EUR USD This/Next Week Forecast, Technical Analysis

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

Fundamental analysis

Difference between US – EU manufacturing and interest rates showing stronger US recovery, that open potential to reach the level 1.1450. But to push prices up or down market need to create stronger disbalance and this week PMI’s can do it.

EURUSD fundamental analysis, US - EU PMI

Long-Term Forecast
(Quarter III: July – September, 2020)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 1.1740, which will be followed by reaching resistance level 1.1930 and 1.2310.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1.1740, which will be followed by moving down to support level 1.1450 and 1.1170.

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

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