An overview of the
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Hello.
Looking at a short term EUR/USD chart, look for the pair to potentially continue its upward movement as we head into the close of the European session and opening of the New York session.
Look for a potential target of 1.4750 - 1.4800 and beyond.
Be sure to apply your money management and use your stops when trading.
Cheers.
Hi, Ross,
According to Forex.com. “Dollar will recover in 4Q, commodities down” and expects that commodities will decline in the 4Q, launching higher the Dollar: “Gold prices will be setback, oil prices to decline, with WTI crude oil at $55/barrel”. Forex.com sees EUR/USD down to 1.37/38.
Appreciate your view on this?
Will dollar recover in 4Q and and down to 1.37/38?
Hi Jennifer,
Thanks for leaving the comment. If you could please give us until next week, we’d like to take a closer look at the longer term charts and will give you a response. We can say that we appear to be in a potential Ending Diagonal (ED) up and when this formation completes, it will drop very quickly. Will it hit the 1.37 area - let’s run our analysis and we’ll post very soon.
Thanks again for leaving the comment and please be sure to check again next week for our analysis.
Thanks.