EUR/USD Forecast August 4, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 04 August 2016 06:22 UTC
The EUR/USD pair fell significantly during the course of the session on Wednesday, forming what is essentially a “today shooting star” in this market at the 1.12 level. If we can break down below the 1.1150 level, I feel that this market will probably drop from there and reach towards the 1.10 level given enough time. At this point, I don’t necessarily have much of an interest in buying this market, because there are so many issues to worry about in the European Union. I believe that the US dollar will continue to be favored due to the “safety trade” aspect.

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