EUR/USD Forecast July 6, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 06 July 2016 05:50 UTC
The EUR/USD pair initially tried to rally during the course of the day on Tuesday but found the previous uptrend line as resistive, and as a result we turn right back around to form a fairly negative candle. A break down below the bottom of candles should send this market looking for the 1.10 level, and then possibly the lows again. I believe that the Euro should continue to soften overall as there is a bit of uncertainty when it comes to the future of the European Union itself. With this, I am a seller of short-term rallies that show signs of exhaustion and of course a break down below the bottom of the range for the day on Tuesday.

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