EUR/USD Price Forecast – Euro Continues To Chug Along

The Euro continues to rally against the US dollar, in what can be best described as a parabolic move. 700 pips in a week or so is massive when it comes to this pair. That being said though, buying the Euro up here is certainly chasing the trade, and that is one of the best ways to lose money in the Forex markets. The markets will continue to see a lot of back and forth when it comes to risk appetite but clearly the biggest thing that people are paying attention to right now is the fact that the Federal Reserve is likely to cut interest rates by another 50 basis points. Because of this, the market is likely to continue to see upward pressure over the longer term, but sooner or later there will need to be some type of pullback. Look at a move towards the 1.1250 area as a potential entry point.

EUR/USD Video 09.03.20

The longer-term move for this pair is probably towards the 1.14 level, and quite frankly the way it’s been moving it could happen rather quickly. However, I do think that we will eventually pull back to build up the necessary momentum to not only get there but break out to the upside. This is a pair that typically doesn’t move very much, so this of course has been extraordinary as of late. The markets will undoubtedly pullback, and when they do you need to be ready to be able to put money to work.