EUR/USD Price Forecast – the Euro flirts with 1.17

The EUR/USD pair has been very noisy during trading on Wednesday, as the market continues the chop around overall. The 1.17 level has been a target more than once, and I think right now it’s essentially “fair value” for the short-term charts. I think eventually though, we will find reasons to go higher, and it looks as if we have been trying to form a bit of a basing pattern in this pair for some time. However, we will need to clear the 1.1750 level before we can gain for a significant amount of time, but once we do I think we then go to the 1.1850 level after that.

I believe that short-term dips continue to offer buying opportunities, and I think that most people are starting to look at this pair in the same light. Obviously, headlines coming out discussing the Brexit and political situations in the European Union can have an effect on this market, but right now it appears that the buyers are trying to make a bit of a stand, and at that point whether they are willing to be resilient enough to push the market around.

If we do break down below the 1.1650 level, then we will more than likely find ourselves reaching towards the 1.16 level underneath, which is even more support. That being said, I do believe that value hunters coming back into the market every time we drop a bit.

Euro to Dollar Forecast Video 26.07.18