EUR/USD

Our longer- term bearish stance on the Greenback remains valid and is ongoing.

Recent gains have, however indicated that the 18-month-old consolidation phase remains in force, effectively postponing the larger bearish potential.

The long-term monthly analysis confirms the respective weekly views.

The US presidential election and upcoming FOMC meeting could result in volatility, but this report does not take any fundamental drivers in consideration as a purely technical outlook.

Users can overlay and include their own perceptions and analyses.

While the longer- term bearish outlook on the US currency remains valid, medium- and short-term outcomes were adjusted since last week’s report.

The alternative outcome of consolidating market action was validated by extended short term appreciation beyond pivotal levels.

Further medium - term range trading has postponed the still relevant and eventual bear trend to new lows.