EUR/USD Price Forecast – Euro rolls over on Friday session

The Euro rolled over a bit during the trading session on Friday, perhaps in a bit of a “risk off” move due to various trade wars and a seemingly unending list of headlines that come out to have traders nervous. Beyond that, the Federal Reserve member, Evans had suggested that the Federal Reserve interest rate policy is about right, which flies directly in the face of the move from the previous session which had people thinking that the Federal Reserve would slow down its rate tightening policy after the CPI numbers were dismal. With that, a little bit of a correction from the previous session makes a bit of sense as people readjust their expectations. Ultimately though, I do think that this pair will go higher and I think that there will be plenty of value hunters underneath.

When I look at the chart, the impulsive candle near the 1.1625 level, I think that there will be plenty of buyers in that area. If we find those buyers, it would make sense that we would probably reach towards the 1.17 level above. Ultimately, if we break down below that impulsive candle, then I think the market drops down towards the 1.16 handle, and then of course the 1.15 level which I see as massive support. There is a lot of choppiness ahead of us, as we continue to bounce between the 1.15 level on the bottom, and the 1.18 level on the top.

EUR/USD Video 17.09.18