The EUR/USD pair initially fell during the course of the session on Thursday, and then crashed through the 1.12 handle. At this point in time though, we
The EUR/USD pair initially fell during the course of the session on Thursday, and then crashed through the 1.12 handle. At this point in time though, we are going to wait to see what happens at the end of the day, and as a result we would be sellers of resistive candles at what we see is the top of the recent consolidation area. On the other hand, if we close well above the 1.12 level, we would be buyers and aiming for the 1.14 handle as it should continue to show bullishness. If we do pullback though, we anticipate that the 1.10 level will be too supportive to break down below.
EUR/USD Forecast August 21, 2015, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
