EURUSD Weekly Forecast and Technical Overview Sep 30th
One of the most boring instruments to trade: EURUSD
Economic Calendar Highlights:
Monday: German Retail Sales, Unemployment.
Tuesday: German Man. PMI, Eurozone Man. PMI, CPI, US Man. PMI, US ISM Man. PMI
Wednesday: US ADP Non-Farm
Thursday: EU Markit Composite & Service PMI, EU PPI, Retail Sales, US ISM Non-Man PMI, Factory Orders
Friday: US NFP
Note: The FED’s repo operations and tools that the FED will use to balance dollar liquidity may create volatility in the near term picture.
We have achieved our near term target at 1.09040.
EURUSD pair must break and close above 1.11000 to enter a near term bullish trend.
The pair is trading below main EMAs on the H4 Chart. Bears are driving the pair.
On the H1 Chart, Bearish ABCD completed. – Details described in the interactive charts–
Pullbacks towards 1.09960 and 1.10200 can be used as selling opportunities.
As seen on the headline H4 Chart, the pair is printing a three drives pattern.
1.08940 is the key support near term.
The breakdown of 1.08940 support would carry the price towards 1.08640, 1.08330 and 1.08070 – where the bullish three drives pattern would be completed –
Intraday opportunities will be posted.
Important Note: New patterns may appear and some emerging patterns may become invalidated. We publish our live charts D1 H4 H1 and M30 with updates and entry alerts. – Members Only –
Link to EURUSD Live Interactive Charts: EURUSD Live Charts
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
EURUSD Weekly 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 responsibility