EUR/USD Price Forecast – Euro falls to find support

The Euro continues to be very noisy, but I still believe in the bottom of the market being closer to the 1.15 handle, and that we are still in consolidation overall. As we broke above the 1.16 level, perhaps there was some profit taking, but at the end of the day we have seen a pullback right into support. I think that the market will probably rally from here, but I wouldn’t put too much faith or money into it. I much more confident in buying closer to the 1.15 handle underneath.

The US dollar continues to strengthen overall, and that is part of what’s been hurt in this pair, but there’s also concerns as to whether or not there will be a deal with the United Kingdom. While most of the pundits will tell you that’s the reason for the British pound falling, I also think it has had a bit of a negative effect on the Euro itself. I recognize that the 1.1625 level above is resistance, and if we can break above there the market could start to pick up serious momentum.

I also recognize that the 1.15 level above is massive support, so a break down below that level would be catastrophic and send this market down to the 1.13 level rather quickly. Either way, it’s going to be volatile as we are in a thin time of year.

Euro to Dollar Forecast Video 09.08.18