14.09.202111:43 Forex Analysis & Reviews: EUR/USD analysis and forecast for September 14, 2021

Yesterday's trading on EUR/USD again showed that the main currency pair is considered such for a reason. It is about the technique, which we will return to a little later. In the meantime, let's briefly talk about market sentiment and the main macroeconomic data that can influence them. As everyone already knows, the main topic for the markets remains the timing of the start of the curtailment of the quantitative easing (QE) program by the Federal Reserve. They will also depend on incoming macroeconomic statistics. Naturally, the better the data comes out, the more confidence the Fed will need to abandon economic incentives gradually. In this regard, the current week can provide the Federal Reserve with many interesting and important information. To avoid missing the element of relevance, let's remind you of important macroeconomic data as they are released. If we follow this approach, then the main event of today will be the consumer price index in the United States, which is scheduled for publication at 13:30 London time. These inflation indicators are especially important ahead of the US Federal Reserve Open Market Committee (FOMC) meeting, which will be held next week. Let me remind you that more and more Fed leaders are beginning to agree that the QE program should begin to be cut at the end of this year. Recently, Patrick Harker, who heads the Philadelphia Federal Reserve Bank, was added to them. In this context, today's inflation reports from the United States can hardly be overestimated.

Daily

Yesterday's trading on EUR/USD started with selling pressure. However, having found strong support in 1.1770, the pair turned sharply and reduced the losses incurred before actively. As can be seen on the daily chart, it was not possible to level all of them. Nevertheless, a candle with a very long lower shadow and a small bearish body is nothing more than a signal for probable growth. At the moment of writing, this is what is observed. The pair is trading with an increase and is trying to enter the limits of the Ichimoku indicator cloud. If this is done successfully and today's trading closes in the cloud, most likely, the upward dynamics will continue, and the nearest target will be the price area of 1.1840-1.1852, where the red Tenkan line and the highs of September 10 are located. To continue or resume the downward scenario, a true breakdown of 50 MA, the blue Kijun line, and the level of 1.1771, where the minimum values of yesterday's trading were shown, is necessary.

H1

As can be seen on the hourly chart, the pair is trying to break above the moving averages at the end of the article. However, the orange 200 exponential actively resists growth attempts. If three consecutive candles close above the hourly 200 EMA, I suggest buying with the nearest target at the resistance of 1.1852 on the rollback to this moving. Perhaps this is the main trading idea for today. Given the shape of yesterday's daily candle, I prefer growth, which means buying.