EUR/USD forecast for the week of September 4, 2017, Technical Analysis

The EUR/USD pair initially rally during the week, but found enough resistance at the 1.20 level above to turn things around and form a shooting star. The shooting star suggests that we are far too overextended at this point, and I suspect there will be a bit of a pullback. I think that the 1.15 level underneath is supportive, and that is more than likely what longer-term traders are looking at. Alternately, the 1.17 level underneath could also offer support as well. I have no interest in trying to fight this overall uptrend, so being patient is probably the best way to trade this market. If we did break above the top of the weekly candle, that would be reason enough to go long.

EUR USD Forecast Video 04.9.17