EUR USD long term forecast 2020

A strong monthly imbalance gained control on EURUSD last month around 1.0654. As explained in previous EURUSD forex cross pair analyses, we had a strong bearish bias but once a strong imbalance on a big timeframe like the monthly takes control, going short in smaller timeframes is not allowed and suicidal.

Euro Dollar forex pair analysis

Look at the strength of that monthly imbalance on EURUSD made of several strong wide candlestick bodies. EURUSD Forex cross pair has already reacted to that imbalance, it moved around 8.10% since price retraced to the imbalance last March 2020.

Potential long opportunities could be created in the next weeks, we need to put this imbalance into context and decide where and how we will trade EURUSD.

EUR USD long term forecast 2020
EUR USD long term forecast 2020

As explained in a previous EURUSD forecast analysis dating back to August 2019, we had spotted that monthly imbalance, we expected a strong reaction from it. Read previous EUR USD forecast coming week August 2019 analysis.

EURUSD price action analysis

This is the kind of price action technical analysis you will learn in our trading community. 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 on EURUSD.

EUR USD video analysis

Watch EURUSD video forecast analysis

Trading supply and demand imbalances is ideal for beginners and those with a full or half time job, you won’t need to stay in front of the computer all day long trying to move price action with your mind. 

EUR/USD supply and demand imbalances

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 is it that 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 gaining control.

Unless you are doing very short term trading and scalping, you should not worry about fundamentals or earnings announcements.

You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for price to pullback or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.

If you want to learn how to trade using our supply and demand trading strategy, join our professional forex trading course.

Alfonso Moreno
Alfonso Moreno
Full time trader, expert technical analyst and founder of Set and Forget supply and demand online trading community. Traveler, photographer and adventurer.

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