EUR/USD Price Forecast – Euro Dips to Find Support Underneath

The Euro has fallen a bit during the course of the trading session on Monday to kick off the week on the back foot but has seen a little bit of stability near the 1.19 handle. That of course is a sign of potential drink, but it looks to me as if the US dollar is trying to strengthen a bit overall, so that should show up here as well. If that is going to be the case, then the market is very likely to continue seeing a lot of choppy volatility, as we are dancing around the 200 day EMA. With the 200 day EMA being right here, it makes quite a bit of sense that we see a lot of choppy behavior.

EUR/USD Video 29.06.21

Underneath, the market is looking at the 1.1850 level as support, and if we can break down below that level then I think the Euro will drop another 200 pips or so. On the other hand, if we can take out the 1.20 level to the upside, then it more than likely allows the market to go looking towards 1.2150 handle. Keep in mind that this pair does tend to chop around and then make sudden moves, so therefore the biggest use you will ever find of this pair is to get an idea as to what the US dollar should be doing it against other currencies that are a bit more volatile. With that being the case, I think we probably continue to go sideways with more of a downward tilt than anything else as there are a lot of questions as to whether or not the Fed will have to taper.

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