The medium-term uptrend is still intact in the EURUSD pair. Lots of chaos has been prevailing in the market from the very beginning of the year 2016 which has been furthermore intensified in the month of September. The FED decided not to hike the interest rate currently which has given a sign of ease to EURO investor. Though there has been a slight indication for the rate hike in the month of December but researchers are assuming a strong bullish rally in the upward direction till the month of December. This scenario might even threaten the long-term bearish trend of this pair. Though the weakness of Dollar is clearly established in the forex market but investors are in fear due to the prevailing weakness of the EURO. The major news release of the US and European economy was pretty bad in this month which mitigated the weakness of the dollar to a great extent. The upcoming week starts with the German IFO Business Climate data which is most likely to come green. Followed by the dovish FOMC meeting a green data in the European economy will definitely fuel the price higher in the EURUSD pair.
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