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

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.

Written by FX Empire