EUR/USD Price Forecast – Euro goes back and forth they had to the G 20

The Euro has gone back and forth during the trading session on Thursday, as we continue to dance around the 200 day EMA. The market has been very bullish as of late so it would make sense to see a little bit of buying on dips, but with the G 20 coming this weekend, it’s very likely to keep the markets relatively quiet. We had initially rallied to significantly, and now we are waiting to see whether the United States and China can come together with some type of terms. That seems very unlikely, but because of that uncertainty I think that it’s going to be difficult to throw a lot of money into this pair.

EURUSD analysis Video 28.06.19

We have most certainly seen a change of the overall attitude, so therefore I think we are in the midst of a potential trend change. That being the case, I think short-term pullbacks are an opportunity to pick up value, as the Euro has been so oversold for quite some time. Now that the Federal Reserve is starting to talk about rate cuts, the Forex markets will have to price in these cuts therefore driving down the value of the greenback. Obviously, there can be the occasional shock to the system due to geopolitical concerns, but the Federal Reserve will be the biggest mover of markets as per usual.

Please let us know what you think in the comments below