Technical view
On Weekly chart EUR/USD is currently in descending channel moving downroads. Also on Daily chart I point out inner channel and marked Support area from 1.093-1-1080. On Weekly chart I marked out Big Support area from 1.048-1.080 with inner support line at 1.060. This Big Support area represent buy preassure in the past where u could see Triple Bottom from March 2015 till January 2017 as I marked on Weekly chart. Trading idea for short term is going for longs from that minor support area in currently descending channel and I must point out 1.080 level where i expect will be buy preassure. I will put TP on top of descending channel in area around 1.1260. On the long term I bealive price will stay in descending channel, but soon as I mentioned there is Big support area from 1-048-1-080 where I will be looking for Long Trades with price action confrimation.
Fundamental view
This week on Thursday 12/9/2019 is ECB Meeting and Interest rate decision. Forecast for Interest Rate is there would be no changes, but there is forecast that Desposit Facility Rate would be lower from -0.40% to -0.50%. Fed meeting and Interest rate decision is scheldued for 18/9/2019 and Fed chair Powell said Interest rate should be lower from 2.25% to 2.00%. This two Key events for Euro and US dollar would be very important on further outlook of this pair.
On Weekly chart EUR/USD is currently in descending channel moving downroads. Also on Daily chart I point out inner channel and marked Support area from 1.093-1-1080. On Weekly chart I marked out Big Support area from 1.048-1.080 with inner support line at 1.060. This Big Support area represent buy preassure in the past where u could see Triple Bottom from March 2015 till January 2017 as I marked on Weekly chart. Trading idea for short term is going for longs from that minor support area in currently descending channel and I must point out 1.080 level where i expect will be buy preassure. I will put TP on top of descending channel in area around 1.1260. On the long term I bealive price will stay in descending channel, but soon as I mentioned there is Big support area from 1-048-1-080 where I will be looking for Long Trades with price action confrimation.
Fundamental view
This week on Thursday 12/9/2019 is ECB Meeting and Interest rate decision. Forecast for Interest Rate is there would be no changes, but there is forecast that Desposit Facility Rate would be lower from -0.40% to -0.50%. Fed meeting and Interest rate decision is scheldued for 18/9/2019 and Fed chair Powell said Interest rate should be lower from 2.25% to 2.00%. This two Key events for Euro and US dollar would be very important on further outlook of this pair.