EUR USD forecast coming week August 2019

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This is an updated supply and demand technical analysis and forecast on EURUSD Forex Major. There is a clear bearish bias on EURUSD Forex cross pair with new lows printed on the monthly and weekly timeframes. Price has been ranging for weeks on EURUSD but after a few attacks to weak lower timeframe demand levels, demand imbalances in the lower timeframes have been eliminating leaving a bearish void to be filled on the way down to monthly demand around 1.0652 where longs will be possible again long term.

EURUSD Forex major supply and demand technical analysis and forecast

There is no reason to go long on EURUSD Forex cross pair, no matter which Forex trading strategy you are using, be it a technical Forex trading strategy or a fundamental trading strategy. No matter how positive or negative news releases and fundamentals are on the Euro or the US dollar, the prevailing long term trend and bias is bearish so try to focus on selling EURUSD no matter which Forex trading strategy you are using.

EURUSD Forex cross pair monthly timeframe

See below EURUSD Forex cross pair monthly timeframe and what we expect to happen in the forthcoming months

EURUSD Forex major video analysis on supply and demand technical. EURUSD bearish forecast

How to trade Forex and EURUSD without using fundamental analysis

We don’t need fundamental analysis to make a trading decision as supply as demand traders. If you read a bit about EURUSD fundamental analysis and news releases, you will be able to read that EURUSD remains under pressure ahead of the FOMC event. You will read that the Forex cross pair has started the week on a mixed tone, although it manages well to keep business above recent lows in the 1.1100 neighbourhood despite the persistent buying interest surrounding the greenback. They also say that the recent dovish message at the ECB event has opened the door to the probable announcement of a package of accommodative measures at the September meeting, and is expected to keep the single currency under the microscope for the foreseeable future.

Do you think that you will be able to interpret the above message? Not even the best economist in the world will agree as to the measures ECB is talking about or what will the consequences for the EURUSD Forex cross air. Do you think you can outsmart those well known economists? We just cannot, so we’d better leave them alone with their fundamental analysis and focus on what price action and supply and demand is telling us to do and that is selling EURUSD Forex cross pair.

Well, we do not care about FOMC or NFP (non farm payment) news releases, we just know that EURUSD is bearish and new supply imbalances are being created on the way down to monthly demand imbalance. Only shorts are allowed. If you are a scalping Forex or trading Forex intraday then you might be a little bit more worried about such Forex events, your stop loss can be easily hit.

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