EUR/USD pair broke down during the course of the session on Friday, breaking below the uptrend line that has been keeping the market afloat for some time
EUR/USD pair broke down during the course of the session on Friday, breaking below the uptrend line that has been keeping the market afloat for some time now. With this, we believe that the Euro should continue to fall, dropping all the way down to the 1.05 level given enough time. Any rally at this point in time the show some type of resistance is probably going to be used as a selling opportunity, and at this moment with the jobs number coming out as strong as it did, we don’t have any real interest in trying to buy this pair.
EUR/USD Forecast November 9, 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.
