EUR/USD Price Forecast – Euro falls during Tuesday trading

The Euro fell a bit during the trading session on Tuesday, reaching down into the support level just below. The 1.16 level underneath should continue to offer support, and although we may pull back from here, I believe it is only a matter time before the buyers come back and pick up the Euro based upon value. The US dollar is getting sold off mainly due to the trade tariffs that are being thrown around the world, and as a result the US dollar has been a bit soft.

As per usual, the markets will be driven based upon headlines and high-frequency trading. This market has been inundated with Robo traders, at least over the last several years. At this point, I think the market is going to try to find its way towards the 1.18 level above, which was a scene of significant resistance in the past. Below, I think there are plenty of value hunters trying to get involved, and I think that the dips are to be thought of as buying opportunities in this volatile yet bullish market.

Keep in mind that it will not take much to spook the markets again, as we continue to see headlines crossing the wires that send mixed signals. I believe that the 1.15 level underneath is massive support, and if that holds, there is hope for the Euro to regain some of its former strength. Otherwise, and if we break down below the 1.15 handle, the market could unwind rather drastically. However, in the short term that doesn’t seem to be much in the way of a possibility.

EUR/USD Forecast Video 27.06.18