EURUSD Forecast – Indecision Breakout Needed

by Aug 27, 2022EURUSD Forecast

EURUSD Analysis Today

Previous EURUSD forecast mentioned price reaching parity and that is what has happened on Monday. The first day of the trading week the price reached parity and on Tuesday it reached $0.99000.

After a strong bearish candle on Monday the price formed four indecision candles representing a fight between bears and bulls.

On Tuesday and Wednesday we can see selling pressure presented as a wick on the lower side of the candles.

On Thursday and Friday we can see wicks on the upper side presenting bullish pressure.

Both, bulls and bears, are pushing in the thier direction, but the last two days shows bulls trying to move the price higher.

EURUSD Daily Forecast 27_8_2022

In the next week I am expecting the price to make a breakout to the upside reaching $1.00400 which is above previous candle wicks. This will indicate the price will reach $1.01368 resistance level.

Candle above $1.00400 is the first sign of the indecision breakout where the price currently is. After that we have a confluence of resistance around $1.01368 which will stop the price from moving to higher levels.

From there we need to see will the price return down because of selling pressure or it will stall and try to break to higher levels.

On the lower side we need to see the price closing the day below $0.99000 which is the first step for bears to push the price down. But, this could be a first step of another attempt to return the price to higher levels.

At this moment the indecision should be broken to the upper or lower side before making a correct conclusion which target the price will reach.

Would you like to have more detailed intraday analysis on EUR/USD?

To learn how to draw support/resistance levels and analyze the multi time frame charts?

Entry EURUSD: If you want to see how to play this scenario join G-Trader

If you want to know how much pips EURUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: EUR/USD Pip Range Analysis

Trading Analysis Bonus

I am sharing trading analysis each week.

It is free and if you want to receive e-mail notification, sign up.

The Forex market is not easily predictable and we need to prepare ourselves for a bullish or bearish scenario. Risk management is crucial in Forex trading so play safe and set stop loss.

“Disclosure: Some of the links in this post are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. This does not cost you anything extra on the usual cost of the product, and may sometimes cost less as I have some affiliate discounts in place I can offer you”

Frano Grgić

Frano Grgić

A Forex trader since 2009. I like to share my knowledge and I like to analyze the markets. My goal is to have a website which will be the first choice for traders and beginners. Market analysis is featured by Forex Factory next to large publications like DailyFX, Bloomberg... GetKnowTrading is becoming recognized among traders as a website with simple and effective market analysis.

Beginners Online Course

Check the best online trading course for beginners

Beginners Online Course

Check the best online trading course for beginners

FREE WORKSHOP

For beginners who does not know how and where to start with trading

In the workshop I will tell you

what steps to do in order 

to transform yourself into a trader

EURUSD Forecast – $0.99134 Decision Level for the Bulls

EURUSD Forecast – $0.99134 Decision Level for the Bulls

EURUSD Analysis TodayPrevious EURUSD forecast mentioned the price could reach $0.96000 which is small support and demand zone. The zone where the price could stall. The price reached that demand zone and stopped, but it reached lower levels in the next two days with...

read more
EURUSD Forecast – $0.94861 Sellers Targeting

EURUSD Forecast – $0.94861 Sellers Targeting

EURUSD Analysis TodayPrevious EURUSD forecast mentioned possible higher levels if the price manage to break above small downtrend resistance line. On Monday the price formed a bullish candle with daily close above previous day candle close. This was indication the...

read more
EURUSD Forecast – $1.01368 Expected Despite False Breakout

EURUSD Forecast – $1.01368 Expected Despite False Breakout

EURUSD Analysis TodayPrevious EURUSD forecast talked about possible breakout to the upside through the small downtrend channel resistance. The price opened a week with a gap to the upside and reached the weekly target mentioned last week. The strong bullish trigger to...

read more
EURUSD Forecast – $1.01368 Expected

EURUSD Forecast – $1.01368 Expected

EURUSD Analysis TodayPrevious EURUSD forecast mentioned the price could find a breakout to the downside, but we should be carefull and wait for a confirmation. The breakout was on Tuesday and the confirmation was not visible in the following days. The confirmation...

read more

0 Comments

Pin It on Pinterest

Shares
Share This