EUR/USD and GBP/USD Forecast August 26, 2020

by birtanpublished on September 10, 2020

from daily forex this is chris taking a look at the euro and the pound you can see the euro is recovering didn't quite take out the candlestick from the previous session

But we're going to uh it's not technically an inverted hammer but it will be and then i think we go much higher i think pool banks at this point in time have to be looked at as potential buying

Opportunities as long as we can stay above we've been bouncing around between 117 and 119 basically with the exception of this little bit and i think that continues to be the

Case thursday jerome powell speaks in jackson hole that could be your next catalyst for the dollar a drop down below the 117 level opens up the possibility of 115 where i'm even more interested in buying

Over here in the british pound 130 offering plenty of support we are cracking just above the inverted hammer from the previous session probably going to get a short term pullback should be a buying opportunity

Eventually i expect this pair to go looking towards 135. i'll say it again 127 and a half i think is a massive support level that extends 100 points i am a buyer dips i do think eventually we break out we're just

Trying to work off some of this excess

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