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EUR/USD: Downtrend expected to continue while it trades below 1.1740

Anton Kolhanov Anton Kolhanov

Thursday Forecast

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 1.1740, which will be followed by moving up to resistance level 1.1830.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 1.1740, which will be followed by reaching support level 1.1695.

Previous day forecast

This/Next Week Forecast (October 12 - 16, 2020)

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 1.1735, which will be followed by reaching resistance level 1.1930.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 1.1735, which will be followed by moving down to support level 1.1610 - 1.1570.

Previous week eur usd forecast

Fundamental analysis

Difference between US - EU manufacturing and interest rates showing fair price on the level 1.1450 - 1.12.

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

Uptrend scenario

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

Downtrend scenario

An 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.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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