by Sep 8, 2020Setups

EURUSD Outlook

EURUSD Yesterday’s chart analysis

The price is on a slow pace heading down since yesterday when the market opened. It is still inside a small range between $1.18398 and $1.17842, but the price has managed to break below 4H trend line support.

After the breaking the trend line support the price formed a bearish Pinbar with the retest of the trend line support. The retest with bearish Pinbar is a sign for the price that bears are stronger and we could see the price moving down.

We now have two support trend lines broken down, daily and 4 hour, which tells me that the price is heading down.

EURUSD Daily Forecast 08_09_2020

Get Access to the Same "New York Close" Forex Charts

I am Using in My Analysis

Receive a 10% trade credit bonus when funding with $1000 or more!

EURUSD Chart Forecast

On Tuesday the market tends to create a trend where it will move for the next few days.

The next step for the price is to break below $1.17842 support level which is the lower level of the small range area.

Based on the EURUSD pip range analysis which shows around 80 pips on average on Tuesday and Wednesday, that tells that the price could reach $1.17000 level in the next two days. If there are no obstacles for the price we could see the price reaching that target.

While the price has a support level in front that must be broken and that could hold the price for a while, the target could be reached this week.

First step is to wait for the price to close below $1.17842 on the H4 frame before making a conclusion on that the price is moving to $1.17000.

If the price reaches the $1.17000 level we could see the price bouncing while the support level is the level that is holding the price above since the end of July.

Online Course for Beginners

  • How to start trading
  • Where to start
  • Where to look first when I open trading platform
  • How to find a broker
  • How the whole process looks like on the live trading examples

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

As a bonus I am sending entry ideas.

ONLY for G-Trader members.

The market is not easily predictable and we need to prepare our self for 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.

The best Harmonic scanner

From $24.99 / month

8 Harmonic patterns

9 Standard patterns

Web based platform

Real time notifications 


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

Beginners Online Course

Check the best online trading course for beginners

The best Harmonic scanner

From $24.99 / month

8 Harmonic patterns

9 Standard patterns

Web based platform

Real time notifications 


Pin It on Pinterest

Share This