fbpx

Weekly Outlook for 14 September to 18 September 2020

It is the second week of a new month and the overall financial market is moving within the trend. As a result, we would see some decent movement in most of the major currency pairs.

Let’s start the forex weekly analysis with the EURUSD

EURUSD

The EURUSD price is going through some volatility nowadays where the price is moving up with a long term bullish continuation pattern.

Weekly Outlook for 14 September to 18 September 2020 1

The EURUSD price is going through some volatility nowadays where the price is moving up with a long term bullish continuation pattern.

GBPUSD

GBPUSD has faced a lot of bearish pressure last week which is expected to extend this week after some correction.

Despite the bearish pressure, the overall outlook is still bullish as long as the price is trading above the 1.2770 support area.

Weekly Outlook for 14 September to 18 September 2020 2

Therefore, any bullish daily close above 1.2800 would increase the bullish possibility this week where the price may continue its bullish momentum. On the other hand, a strong daily close below 1.2770 may alter the current market structure.

USDJPY

USDJPY is still going through some corrections from the last few weeks. However, this week a bearish possibility is likely to happen as the price failed to sustain above the 106.00 level.

Weekly Outlook for 14 September to 18 September 2020 3

For the bearish sentiment, the target would be towards 103.00

USDCAD

The USDCAD price is moving downside with a long term bearish pressure where the price may face a bullish correction towards 1.3300 area from where the bearish sentiment is likely to continue.

Weekly Outlook for 14 September to 18 September 2020 4

However, a daily close above 1.33 would alter the current market structure.

>