EUR/USD Forecast August 8, 2016, Technical Analysis

The EUR/USD pair initially tried to rally during the course of the session on Friday, but then fell apart and reached towards the 1.1050 level. That being the case, there is more than enough support below, and as a result I think that we will bounce given enough time. The market continues to go back and forth and it’s going to be difficult to hang onto a trade for any real length of time when it comes to the EUR/USD pair. Short-term volatility could offer scalping opportunities in both directions, but unless you are nimble, you should stay away from here.