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EUR/USD forecast for the week of August 28, 2017, Technical Analysis

By:

Christopher Lewis

Updated: Aug 26, 2017, 06:39 GMT+00:00

The EUR/USD pair skyrocketed on Friday, to form a very bullish candle for the week. We have broken above the top of two hammers, which are sitting at the

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Read what the experts are trading this weekExclusive analysis from FXEmpire top analysts — curated insights you won't find on the free site.

The EUR/USD pair skyrocketed on Friday, to form a very bullish candle for the week. We have broken above the top of two hammers, which are sitting at the 1.17 level. Ultimately, the market looks as if it is going to try to go to the 1.20 level above, and then perhaps even the 1.25 level after that based upon a bullish flag on the daily chart. I have no interest in shorting this market, as we have recently broken out of a three-year consolidation area that had been very reliable.

EUR USD Forecast Video 28.8.17

About the Author

Christopher LewisSenior Analyst

Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.

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