Supply: IG Charts
Elementary Euro Forecast: Bullish
- After climbing strongly since mid-Might, EUR/USD is certain to falter sooner or later.
- Nevertheless, with the US economic system spluttering and the November election coming nearer, it’s arduous to establish any motive why EUR/USD’s advance ought to finish quickly.
Euro value outlook nonetheless rosy
Because the chart under reveals, EUR/USD has now made headway for the final six weeks and for 9 of the previous 11 weeks. After an increase like that there have to be a interval of consolidation or retracement ultimately – the issue is to establish a catalyst, and none jumps to thoughts.
EUR/USD Value Chart, Weekly Timeframe (December 4, 2017 – July 30, 2020)
Chart by IG (You’ll be able to click on on it for a bigger picture)
of clients are net long.
of clients are net short.