The EUR/USD pair rallied initially during the day on Tuesday, but turned back around to form a bit of a shooting star. The shooting star of course is a
The EUR/USD pair rallied initially during the day on Tuesday, but turned back around to form a bit of a shooting star. The shooting star of course is a negative sign, and quite frankly we believe that the market is going to continue to go lower, perhaps reaching down to the 1.05 handle. We also believe that the former uptrend line should now be resistive, and with that we believe that selling opportunities will present themselves again and again. With the European Central Bank promising potential stimulus, the pressure will continue to be on the Euro.
EUR/USD Forecast November 25, 2015, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
