EUR/USD Forecast August 9, 2016, Technical Analysis

The EUR/USD pair initially tried to rally during the course of the day on Monday, but turned back around to form a bit of a shooting star. That being the case, the market ended up showing signs of weakness and I believe that the Euro is going to continue to fall from here, perhaps reaching down to the 1.10 level below. That’s an area of that should continue to show quite a bit of interest by traders, because quite frankly the area has been massively supportive recently as we have seen this market bounce several times from there.