EUR/USD Forecast August 24, 2015, Technical Analysis

The EUR/USD pair initially fell during the course of the session on Friday, but turned back around and slammed into the 1.14 region. There is a significant amount of resistance here though, so it’s probably only a matter time before the market sees sellers come back into play. We have to wait to see what happens at the end of the day, but if we get a resistive candle it would be a perfect selling opportunity we believe that this market is a little bit overbought at this point in time, so we would not hesitate to start selling for short-term trade. On the other hand, we think there is a significant amount resistance between the 1.14 level and the 1.15 level.