The EUR/USD pair rallied pretty significantly during the session on Friday, but as you can see the 1.11 level offered enough resistance to turn this
The EUR/USD pair rallied pretty significantly during the session on Friday, but as you can see the 1.11 level offered enough resistance to turn this market back around and send it below the 1.10 level. With that, this massively bearish looking candle since this market looking for the 1.08 level over the next several sessions at this rate. Ultimately, we believe that this market is going to be choppy, and quite frankly wouldn’t necessarily blame you for stepping on the sidelines and avoiding it. We believe that the longer-term consolidation area in the meantime will be between the 1.08 level on the bottom, and the 1.12 level on the top.
EUR/USD Forecast August 3, 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.
