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EUR/USD Price Forecast August 17, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Aug 17, 2017, 04:29 UTC

The EUR/USD pair fell during the trading session on Wednesday, testing the 1.17 level underneath. This is an area that should continue to offer a bit of

EUR/USD daily chart, August 17, 2017

The EUR/USD pair fell during the trading session on Wednesday, testing the 1.17 level underneath. This is an area that should continue to offer a bit of interest, but with the FOMC Meeting Minutes coming out, it’s possible that we may see a bit of volatility. Ultimately, this market I think will find buyers, the question now is whether we can find it here, or if we have to find it at a lower level. A break above the 1.1750 level is a signal that the buyers are coming back, and that we should continue to go higher. If we break down below the lows of the session, then I feel that the market will probably go looking towards the 1.15 level underneath to find buyers. Either way, I do believe that longer-term we continue to see buyers in this pair, as it certainly has broken out above a significant resistance barrier going back almost 3 years.

Euro to Dollar Forecast Video 17.8.17

About the Author

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.

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