EUR/USD Week Ahead- LONG

Looking at Friday I believe we have gained further ideas on where the market might take this pair in the upcoming week.

The movement is all dependent on the geopolitical tensions , market optimism and etc as many movements are of course. Because of the high optimism in the markets I believe this will carry forwards into the near future before settling in a range. If tensions rise on the Corona side and Geopolitical Side then the EUR bulls will have to fend off unsurprising bear movements, Only time will tell if they prove to be successful.

Our current support level provides a heavy level of support which will in my opinion will be tested lots of times moving forwards. A break below this level will equate to a movement to the region of 1.104. Bulls being able to secure the support line and regaining traction on the ascending pattern will mean a retest of 1.14 this week or next. These movements will of course come from EU Stimulus agenda which will need to be supported by the added reinforcements of Strategies dealing with Corona from NGO's and United States Stimulus.

Because we are in a market that is filled with stimulus I believe the pair , just like many other pairs will continue to trend higher . With this thesis I believe the most likely scenario for this pair is Scenario 1 that is modelled on the graph. Other scenarios that i believe to be viable in the current situation have been drawn up as well :)


Thanks for viewing !


This is not financial Advice , please do own DD and RM :)