EUR/USD forecast for the week of August 21, 2017, Technical Analysis

The EUR/USD pair fell during a large portion of the week, but ended up rallying enough to form a supportive looking hammer which mirrors the hammer from the previous week. However, the week before that was a shooting star so the question is now who will win this next argument. I believe that longer-term traders will probably need to see an impulsive move in one direction or the other to make a decision. However, I’m not looking to sell from the longer-term regardless. A decision being made for me would be a breakdown of the lows from this week, telling me it’s probably best to look for buying opportunities at the 1.15 handle. Alternately, and impulsive bullish candle should send buyers into this market looking for the 1.20 level. Overall, I believe in the uptrend and don’t wish to fight it until we are well below the 1.14 handle.

EUR USD Forecast Video 21.8.17