Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis
EUR/USD weekly chart, September 23, 2019

The Euro fell a bit during the trading week, reaching down towards the 1.10 level. That is an area that will attract a certain amount of attention because it is a large, round, psychologically significant figure, but at this point in time it does look like it will be tested and perhaps break down through there. The previous two weeks should offer support, and therefore if we were to break down through those candlesticks, the market should unwind down towards the 100% Fibonacci retracement level, looking towards the 1.04 EUR region.

EUR USD Forecast Video 23.09.19

At this point, the market is probably going to continue to sell rallies, but for longer-term traders it’s going to take an incredible amount of patience in order to take advantage of this trend. The market has been very choppy to say the least but when you look at the longer-term attitude it certainly is negative. Beyond all of that, the European Union will continue to suffer poor economic figures and of course the Germans and Italians possibly entering a recessionary environment does nothing to help the idea of stability in the EU. Beyond that, the European Central Bank is very likely to step into more quantitative easing, and perhaps even more negative yields. With that, the longer-term trend should continue to be crucial to follow. It might be easier to trade this market from a shorter-term aspect though, so at this point in time longer-term traders may be a bit discouraged.

Know where EUR/USD is headed? Take advantage now with 

75% of retail CFD investors lose money

Please let us know what you think in the comments below

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.