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EUR/USD Trading Analysis with Forecast for 08 September 2014

September 8, 2014 10:37 am

On 04.09.2014, very important events like ECB Press Conference and Interest Rate Decision and interest rate decrease from 0.15% to 0.05% and EUR/USD currency pair was moved downward 1.2914. On Friday, this pair was opened at 1.2944 move upward as correction, but closed at 1.2956 due to downward momentum.

Forex Fundamental and Technical Analysis:

Today we are expecting that EUR/USD currency pair will move upward direction because EUR/USD pair already in strong oversold condition and dollar in strong overbought condition and on Friday dollar weak due to Nonfarm Payrolls decreased from 212K to 142K and Private Nonfarm Payrolls decreased from 213K to 134K and this pair was maximum upward near 1.2987 due to bearish momentum. So, today we are predicted that this pair may be will move upward due to weakness in dollar and due to overbought condition.

Recommended Forecast:

Dear traders today our preferred outlook for EUR/USD currency pair is that buy trade best because due to above mentioned reasons may be dollar will go to bearish movements and this pair move in uptrend side. If this pair break 1.2900 support level then these expectation may be damaged. See our Free Signals Session.


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