EUR USD forecast coming week August 2019

This is an updated supply and demand technical analysis and forecast on EURUSD Forex Major. There is a clear bearish bias on the EURUSD Forex cross-pair with new lows printed on the monthly and weekly timeframes. Price has been ranging for weeks on EURUSD. Still, after a few attacks to weak lower timeframe demand levels, demand imbalances in the lower timeframes have been eliminated, leaving a bearish void to be filled on the way down to monthly demand around 1.0652 where longs will be possible again long term.

EURUSD Forex major supply and demand technical analysis and forecast

There is no reason to go long on the EURUSD Forex cross pair, no matter which Forex trading strategy you are using, be it a technical or a fundamental trading strategy. No matter how positive or negative news releases and fundamentals are on the Euro or the US dollar, the prevailing long-term trend and bias are bearish so try to focus on selling EURUSD no matter which Forex trading strategy you use.

EURUSD Forex cross pair monthly timeframe

See below the EURUSD Forex cross-pair monthly timeframe and what we expect to happen in the next months.

EURUSD Forex major video analysis on supply and demand technical. EURUSD bearish forecast

How to trade Forex and EURUSD without using fundamental analysis

We don’t need fundamental analysis to make a trading decision as supply as demand traders. If you read a bit about EURUSD’s fundamental analysis and news releases, you will be able to read that EURUSD remains under pressure ahead of the FOMC event. You will read that the Forex cross pair has started the week on a mixed tone, although it manages well to keep business above recent lows in the 1.1100 neighbourhood despite the persistent buying interest surrounding the greenback. They also say that the recent dovish message at the ECB event has opened the door to the probable announcement of a package of accommodative measures at the September meeting and is expected to keep the single currency under the microscope for the foreseeable future.

Do you think that you will be able to interpret the above message? Not even the world’s best economist will agree on the measures ECB is talking about or the consequences for the EURUSD Forex cross-air. Do you think you can outsmart those well-known economists? We just cannot, so we’d better leave them alone with their fundamental analysis and focus on what price action and supply and demand are telling us to do: selling EURUSD Forex cross pair.

We do not care about FOMC or NFP (non-farm payment) news releases. We know that EURUSD is bearish, and new supply imbalances are being created on the way down to monthly demand imbalances. Only shorts are allowed. If you are a scalping Forex or trading Forex intraday, you might be a little bit more worried about such Forex events, and your stop loss can be easily hit.