EUR/USD Forecast Euro Dollar September 29, 2021


Currency pair Euro/Dollar EUR/USD continues to move as part of the correction and the formation of the ”Triangle” model. Moving averages indicate a short-term bearish trend for the pair. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the European currency and a potential continuation of the fall in the asset quotes from the current levels. At the time of the publication of the forecast, the Euro/US Dollar rate is 1.1700. As part of the Forex forecast for September 29, 2021, we should expect an attempt to develop a rise in prices and a test of the resistance level, which is located on the pair near the 1.1735 area. Further, a rebound down and the continuation of the fall of the Euro/Dollar currency pair. The potential target of such a movement on FOREX is the area below the level of 1.1575.

EUR/USD Forecast Euro Dollar September 29, 2021

An additional signal in favor of falling EUR/USD quotes will be a rebound from the upper border of the ”Triangle” pattern. The second signal will be a rebound from the trend line on the relative strength index (RSI). Cancellation of the option of falling quotations of the Euro/Dollar currency pair will be a strong growth and a breakdown at the level of 1.1805. This will indicate a breakdown of the upper border of the “Triangle” model and a continuation of the rise to the area at the level of 1.1965. Expect confirmation of a fall in the EUR/USD currency pair with the breakdown of the support level and closing of the price below 1.1635, which will indicate a breakdown of the lower boundary of the “Triangle” model and the beginning of the development of this pattern.

EUR/USD Forecast Euro Dollar September 29, 2021

Among the important news from Europe and the United States that may have an impact on the EUR/USD pair, it is worth highlighting: Speech by the President of the European Central Bank (ECB) President Lagarde Speech, Federal Reserve System (Fed) Chair Powell Testimony, The Conference Board United States Consumer Confidence Index.

EUR/USD Forecast Euro Dollar September 29, 2021 assumes the development of a correction and a test of the resistance area near the level of 1.1735. Where can we expect a rebound and an attempt to fall in the pair to an area below the level of 1.1575. A test of the trend line on the relative strength index (RSI) will be in favor of reducing the currency pair. Cancellation of the EUR/USD pair fall option will be a strong growth in quotations and a breakdown of the level of 1.1805. This will indicate a breakdown of the resistance area and a continuation of the rise of the currency pair on Forex to the area above the level of 1.1965.


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