EUR/USD Price Forecast – Euro continues to selloff

The Euro fell rather hard during the trading session on Wednesday, breaking down towards the 1.1350 level, and at this point it’s likely that there will continue to be a lot of negativity and volatility around this market. I do think that eventually we could see buyers step back in based upon either a technical bounce or a bit of value, but quite frankly markets are very short term focus, and that seems to be what you should focus on. If we do get a bounce from here, I suspect the 1.1450 level will be very resistive. If we fall from here, the 1.1350 level underneath has been supported in the past. In other words, don’t get too excited about any particular position, because if you blink it will change directions again.

This type of negativity can’t go on forever though, at least not without some type of recovery. Now that we have seen a couple of nasty for our candles, I suspect that we will get an initial bounce before any continuation. If we could turn around and break above the 1.15 handle, then I think the market might have a chance to rally. However, it looks very unlikely to be anything sustainable, as market simply just aren’t ready to take on risk at this point. When that day comes, it will become very obvious and then buying the Euro will be able to be done again. Until then, keep your position size small and be quick to take profits.

Euro to Dollar Forecast Video 25.10.18