EUR/USD Forecast August 25, 2015, Technical Analysis

The EUR/USD pair broke higher during the course of the session on Monday, and at one point in time even touched the 1.17 handle. This was in reaction to the idea that the Federal Reserve was going to have to wait to raise interest rates, and that of course spooked the market. The fact that we broke above the 1.15 level is very significant though, and if we can find buyers to continue to pushes market above that level, we feel it is only a matter time before the market goes to much higher levels. On the other hand, if we find yourselves dropping back below the 1.14 level, that would be extraordinarily bearish.