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EURUSD Forecast and Technical Analysis Week: 16-20 Sept

EURUSD Forecast and Technical Analysis Week: 16-20 Sept

As we have published in our latest trade idea, after the breakout of the falling wedge pattern the pair tested 1.17200 and completed the Bearish Shark Harmonic pattern. Our second target was 1.16500 and pair ended the week below 1.16200.

EURUSD Potential Bearish Shark Formation

What’s next? 

  1. Midterm bearish pressure will remain under 1.18600. 1.17200 is the important resistance.
  2. Shorter-term resistance is located at 1.16600.
  3. Breakout of 1.16000 support will carry the price 1.15300.
  4. 1.15300 – 1.15100 interval is important. We predict the pair’s bearish move will be accelerated by the breakout of 1.15100
  5. Our midterm target is 1.14500.
  6. Longterm target is 1.12200.

You can watch the video analysis: https://youtu.be/xUhFdC_PvuY

Video Analysis in Turkish: https://youtu.be/xUhFdC_PvuY

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

 

 

EURUSD Forecast: 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 responsibilit

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