Euro Forecast – 29 september 2020

Forex Forecast Rapport

By clicking on the link you can read the full Euro Forecast Report as of September 29, 2020. This includes the euro’s expectations against various currencies, trends, key support and resistance levels and more.

 

Agenda

Source: DailyFX.com

 

Energy

The value of the Energy parameter is positive. This means that from a global perspective the Euro strengthens.

In addition, the energy indicates how strong a movement is. When a movement moves towards extremes, there is an above-average chance for a possible turn in the value development of the euro.

The energy level is medium from a global perspective. This means that support & resistance levels can be broken in the direction of the bigger trend. And that the chance is limited for a global change in the trend of the euro.

 

Global View

A summary of the most important parts of the report. From an overview can be seen; the degree of volatility, the trend of the last few days, and which currencies make a possible top or bottom.

In addition, a brief description is given of the short-term expectation and to what level the euro (expressed in that currency) can move in the short term.

 

Possible Top

The following currencies show a possible short term top. This means that the Euro may weaken for the short term against the currencies listed below.

EUR/AUD

EUR/PLN

EUR/ZAR

 

Possible Bodem

The following currencies show a possible short-term bottom. This means that the Euro can strengthen against the currencies below for the short term.

EUR/CNH

EUR/JPY

EUR/USD

 

Forextra Forecast Model

The Forextra Forecast Model is inspired on the “invisible hand” philosophy of renowned economist Adam Smith. It looks from a global perspective to determine whether the euro is in a positive or negative trend.

By only analyzing this from one currency, the perspective is limited. What appears to be a positive trend or negative trend in such a case can be very different from an international perspective. Global trends are the result of the trends that become visible from every perspective and are thus not limited to one currency. With the Forex Forecast Report you can see every detail from a global perspective.

 

To know more about the forecast model click on the link; the forextra forecast model

 

 

Disclaimer:

No Investment/ Hedging Advice Provided. Any opinions, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment/hedging advice. The Website should not be relied upon as a substitute for extensive independent market research before making your actual trading/ hedging decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. Forextra.io will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.We do not recommend the use of the Forextra Forecast Report as a sole means of trading/ hedging decisions. We do not recommend making hurried trading/ hedging decisions. You should always understand that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.