EUR/USD Price Forecast – Euro continues to fall

The Euro has broken down during the trading session on Tuesday, reaching down towards the 1.1550 level. However, I think that there is a certain amount of negativity just waiting to jump into this marketplace, so I would be cautious about putting a lot of money to work initially. I think it we can break down below the 1.15 level, then you could become much more aggressive. In the meantime, it’s likely that we will see volatility.

Pay attention to the US dollar overall, and concerns around the world globally. As long as there’s fear out there, it will favor the US dollar. The US dollar surging higher will of course drive down the value of the EUR itself, so headlined driven events will continue to be what we are focusing on. The Brexit of course continues to be a major issue, and all of the political noise surrounding that will be what a lot of people are paying attention to. Because of the potential noise out there, you should keep your position size small. However, as I previously mentioned I think that the 1.15 level is crucial, so therefore you must pay close attention to it. If we can stay above there, there will be some hope for the Euro, but if we were to break down below it we would see a lot of selling pressure into the marketplace. Do not add to your position until you’re proven correct.

EUR/USD Forecast Video 05.09.18