Forecast For This/Next Week (October 5 - 9, 2020)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1.1770, which will be followed by moving up to resistance level 1.1930 and if it keeps on moving up above that level, we may expect the market to reach resistance level 1.2155.
Downtrend scenario
The downtrend may be expected to continue, while the market is trading below resistance level 1.1770, which will be followed by reaching support level 1.1570 and 1.1450.
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Previous week EUR//USD forecast
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Fundamental analysis
Difference between US - EU manufacturing and interest rates showing fair price on the level 1.1450 - 1.12.
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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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