EURUSD Trading idea for the week of 2-October-2017

EURUSD pair fell during the first few days of last week but during Thursday and Friday, it formed bullish candles.


Fundamental Analysis

European Central Bank looks like they could begin their tightening policy soon. Even thought Feds are also hawkish at this moment, the favour is likely to be on the the Euro as the data coming from US are mixed.

Technical Analysis

As daily bullish candles have been formed for Thursday and Friday, it looks likely that the pair could go higher from here as shown in the chart. 1.1700 level is going to be massively supportive, and dips are likely to offer value rather than a turn-around to a bearish trend overall. The pull back we have seen recently could be that the pair is just trying to build momentum as the buyers could jump in at lower prices.

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