EUR/USD Forecast August 3, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 03 August 2016 08:30 UTC
The EUR/USD pair did have a bullish day during the day on Tuesday, breaking above the 1.12 level. While this is a bullish sign, the reality is that it’s not until we get above the previous uptrend line that we can take the breakout serious. I’m looking for an exhaustive candle still, and a move back below the 1.1150 level to start shorting. As far as buying is concerned, we have to get above that trend line for me to do so. With this, expect quite a bit of volatility but given enough time I do think that we turn around.

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