3 Forex Trading Opportunities You Don't Want to Miss

investing.com:

As we move into September, financial markets are gearing up for potentially higher volatility after a relatively calm holiday season.

A busy macroeconomic calendar promises significant events, starting with the release of U.S. inflation data on Wednesday. Following that, the upcoming ECB meeting looms large, holding the potential to shape monetary policy in the eurozone for the months ahead.

Meanwhile, the Bank of England has been making noise about the possibility, and even the necessity, of further interest rate hikes in the UK. This matter will be up for discussion at the meeting scheduled for September 21.

On a different note, the National Bank of Poland's recent decision to reduce interest rates by 75 basis points had a substantial impact on the Polish zloty.

Keeping all that in mind, here are three trading opportunities in the forex market that traders can potentially take advantage of:

Turning our attention to the EUR/USD pair, it's currently trading within a descending price channel after breaking away from its previous uptrend. Sellers have their sights set on the demand zone slightly above $1.05 per euro as their primary target.

Depending on the evolving decisions and macroeconomic data, another scenario to consider is a potential upward breakout from the price channel, creating room for a new demand-driven momentum.

In this scenario, the initial local target would be the nearby resistance zone, around the $1.0930 price range.

The Bank of England continues to maintain a hawkish stance, both in its statements and actual policy decisions. In its recent meeting, interest rates were raised by 25 basis points, in line with expectations, and this is unlikely to be the final rate hike.

From a technical perspective,