The EUR/USD pair went back and forth during the day on Thursday, ultimately forming a bit of a hammer. This market looks as if it is ready to bounce from
The EUR/USD pair went back and forth during the day on Thursday, ultimately forming a bit of a hammer. This market looks as if it is ready to bounce from here, and as a result we will more than likely test the previous uptrend line that had kept this market in the larger ascending triangle. That area should be enough resistance to turn this market back around, so on a rally and more importantly, a sign of resistance at that previous trend line, we are more than willing to start selling yet again as we believe the pair is reaching towards the 1.05 handle over the longer term.
EUR/USD Forecast November 13, 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.
