Forex Weekly Outlook- 27 September to 1 October, 2021

Forex Weekly Outlook- 27 September to 1 October, 2021

Contents

Weekly Forex outlook and review for for 27 September to 1 October, 2021

There’s some important events and news this week, including German Federal Elections, BOE Gov Bailey Speaks, Fed Chair Powell Testifies. These are the key market movers of this week. We may expect the market to be volatile this week as well.

Let’s see what we have got for the coming week from the EURUSD:

EUR/USD

The German Federal Election may affect the price a little bit this week by increasing the price volatility.

The current price of EUR USD is trading below the resistance of 1.1900 and above the support of 1.1700 key level. Therefore, considering the overall structure we should focus on finding a sell towards 1.1600 if the price closes below the 1.1700 level with a bearish daily close.

eurusd

In the chart above, we can see that the EURUSD remains below the dynamic 20 EMA and stays stable, but the last few candles indicate a corrective momentum, which declines the possibility of bearish movement.

Considering the current market structure, we may expect the price to move higher towards the 1.1800 level. However, a break below the 1.1680 level may alter the market condition.

GBP/USD

During the speech of the BOE governor, traders may get an idea about the interest rate. Since he has more influence over the nation’s currency the market may remain volatile during that time.

The current price is trading below the resistance of 1.3900 and support of 1.3600 key level. Therefore, considering the overall structure we should focus on finding a buy below 1.3600 closed candle.

gbpusd

In the chart above, we can see that the GBP/USD is also below the dynamic 20 EMA with a bearish momentum.

Considering the current market structure, we may expect the price to move higher towards the 1.3900 level. However, a break below the 1.3600 level may alter the market condition.

XAU/USD

The current price is trading below the resistance of 1783 and support of 1723 key level. Therefore, considering the overall structure we should focus on finding a sell below 1723 closed candles.

We can see in the above chart that XAU/USD is below the dynamic 20 EMA with a bearish momentum after a correction.

Considering the current market structure, we may expect the price to move lower towards the 1723 level. However, a break above the 1783 level may alter the market condition.

BTC/USD

After a lot of doubt bitcoin finally moved below 45000.00 level. The current price is trading below the resistance of 45000.00 and support of 37410.00 key level. Therefore, considering the overall structure we should focus on finding a sell below 41500.00 with bearish closed candles.

btcusd

In the chart above, BTC/USD is below the dynamic 20 EMA and it has a higher possibility of moving towards the upside this week.

Considering the current market structure, we may expect the price to move higher towards the 45000.00 level. However, a break above the 41500.00 level may alter the market condition.

Overall, there is a possibility of a decent price movement for both bulls and bears.

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