Back on September 26, 2021 we published our Weekly Forex forecasts while EUR/USD traded near 1.1720. Our models all pointed lower both in the medium and longer terms. Our medium term forecast was 1.1360, which we reached in today’s session with a low of 1.1357. While our longer term forecast still calls for further downside to 1.0990, we’re cautious not to get overly ambitious with initiating new shorts at these levels. There is further room for slippage for the remainder of the week to as low as 1.1315/05, but beyond that, we would pause and let this pair take a breather.
