EUR/USD Price Forecast – comments rocked the Euro again

This is the domain of high-frequency traders. That means that they are using bots that read things like headlines as well as price information. I think that’s what we have seen in this pair, but at this point I think we are trying to form some type of bottom. I don’t know if we will get it, but ultimately it looks as if the 1.15 level will continue to be crucial for support. If that’s the case, then I believe that the buyers will continue to turn on dips and use it as an opportunity to get involved in the marketplace. It should also be noted that the 1.18 level above is massive resistance, so keep that in mind as well. This marketplace has been very choppy, as we of course have all of the noise involving the Brexit weighing upon the Euro and the British pound.

I believe that ultimately this is a market that has been oversold, and the resiliency and possible double bottom that we have seen near the 1.15 level makes me believe that we will try to get to the top of the range eventually. That doesn’t mean this can be easy, and it certainly will be frustrating at times. However, I believe that buying on the dips should continue to be the case and as soon as we get some type of agreement or resolution between the UK and the EU, this pair should be free to go higher.

EUR/USD Forecast Video 12.09.18