EUR/USD Weekly Forecast, August 31 - September 4

Weekly Forecast (August 31 - September 4, 2020)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 1.1930, which will be followed by reaching resistance level 1.2090 - 1.2155.
Downtrend scenario
A 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.

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Previous week EURUSD forecast

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Fundamental analysis

According to fundamental analysis difference between the US - EU manufacturing and services potential shows an overbought market and the fair price at the level 1.14.

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

Uptrend scenario
The uptrend may be expected to continue, while the market is trading above support level 1.1740, which will be followed by reaching resistance level 1.1930 and 1.2310.
Downtrend scenario
A 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.

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