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EURUSD Forecast and Technical Analysis

EURUSD Forecast and Technical Analysis

Our medium-term and intraday trades reached their sub-targets at 1.12000. We booked partial profit and moved our stop loss to entry.

Intraday Overview:

The pair is testing 1.12000 support. Breakout will send the price 1.11800. As we have published in our yesterday’s setup, Bullish Alt Bat pattern would be completed at 1.11800.

EURUSD H1 Chart Triangle Breakout

Key Data of The Day:

EU CPI
US Building Permits – Housing

Bearish Scenario:

Worse thane expected EU CPI … 1.11800 Alt Bat
Better than expected US Housing Data may send the pair below 1.11800 – 1.11700. A bullish Cypher pattern is being formed on the bigger charts and it would be completed at 1.11200.

We will add short if the pair breaks and makes closing below 1.11700.

Bullish Scenario:

Better than expected EU CPI and Worse than expected US Housing Data. The pair may reverse and retest 1.12700.

Looking at the interest rates of the Central Banks and macroeconomic data of the currencies, EURUSD remains under selling pressure.

We keep our medium-term target unchanged at 1.08800.

I will update!!

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

EURUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

 

 

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Ercu Kartas

Treasury Department Dealer Technical Analyst FX Trader

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