EUR/USD and GBP/USD Forecast August 17, 2020

by birtanpublished on August 25, 2020

from daily forex this is chris taking a look at the um euro dollar and as you can see the euro dollar has uh initially fallen during the trading session but recovered

Now that being said it looks to me like we are going to continue to see uh back and forth between 117 and 119 if we break 117 we're going to 115 and i'd be a buyer there as well notice how i'm not looking too short

This market alternately if we break 119 then we go to 120. if we go sideways for a while that means people are getting used to being up here so i do think we go higher over the longer

Term british pound gave back some of the gains here on friday we're still in this range could it's a little bit early to call this a bullish flag but it could be a bullish

Flag if we can get a little bit of a pullback here um at that point it measures for a move just above 135 right about to the high so it's all tying in quite nicely above the

130 150 level on a daily close i think that's when i start buying and aiming for 135 in the meantime short term scalping back and forth if we break 130 then 127 and a half is where i start buying again

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