Euro to Dollar forecast for tomorrow week and month August 2019

EURUSD Forex cross-pair supply and technical demand analysis is telling us that only shorts are allowed at new supply zones. The weekly timeframe is in a clear downtrend, with new weekly supply imbalances being created and respected and demand imbalances eliminated.

EURUSD Forex cross pair forecast

There is a lot of room for the price to keep on dropping further on the weekly and monthly timeframes and room to reach a very strong monthly demand level near the EURUSD forex cross-pair parity level.

In the meantime, the Dollar Index DXY is reacting to a weekly demand level as well, with room to keep on rallying. Both the EURUSD Forex cross-pair and the Dollar Index DXY are highly correlated.

Using other Forex trading strategies, you can use this supply and demand technical analysis to plan short trades. You could even use indicators and oscillators to plan your trades. We don’t need indicators to make a trading decision, though. If you still want to use them, we’d advise you to take only short trades on EURUSD since the bigger-picture trend is down and new supply levels are being created.

Price action analysis using supply and demand technical analysis

This is the kind of price action technical analysis you will learn in our online trading academy. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances.

Trading supply and demand imbalances are ideal for beginners and those with full or half-time jobs. You won’t need to stay in front of the computer all day long trying to move price action with your mind. 

As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why do you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances in gaining control.

You should not worry about fundamentals or earnings announcements unless you are doing very short-term trading and scalping.