EURUSD WEEKLY FORECAST - Last Friday we saw the EURUSD pair went towards the 1.1905 level but couldn’t reach the 1.1965 mark which was expected .If we see the daily close we can watch that the pair closed at the 1.1778 level which was actually the 200 EMA in the M30 timeframe .Now if we can see more downfall on Monday ,the pair may downfall towards the 1.1695 level .Though as per the H1 timeframe the uptrend is still in the play so from next week the EURUSD pair can come towards the 1.1905 and then the 1.1965 level can be seen.
The USD dollar index on the other hand now showing neutral from bearish .From the daily low of mid 92 ,the price bounced towards the mid 93 on late Friday indicates that there may be a good chance for the USDX to bounce back next week and that can bring the USD related pairs down for sure .So we have to keep eye on such .
EURUSD CHART - As per the weekly chart ,the trend bias is still bullish and there may be a good chance that the pair may come towards the 1.2098 level .Now there are two scenarios –first is that the pair may make a continuous bounce targeting the above level. On the other side ,the pair if falls down more deeper it could come towards the 1.1405 level and then it may attempt the 1.1905 and then the ultimate 1.2098 by passing the 1.1965 level.
EURUSD WEEKLY NEWS – Here me showing all the high impact news related to the Euro and USD currencies.
1.Monday –03/08/2020 – USD ISM manufacturing PMI result will be declared
2.Wednesday -05/08/2020 – June Month Euro retail sales , July Month USD ISM non manufacturing PMI
3. Friday -07/08/2020 – July Month Non farm payrolls may come out.
So we have to be careful to trade with these currencies on such days and should keep eyes on such dates
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