EUR/USD Forecast September 1, 2016, Technical Analysis

The EUR/USD pair initially fell during the course of the session on Wednesday, but turned right back around to form a bit of a hammer. If we can break above the top the hammer, the market should then reach towards the 1.12 handle. On the other hand, if we break down below the bottom of the hammer, I feel that the market will continue to go lower at that point in time. With this, the market is going to be very volatile, but a significant amount of momentum will be brought into the marketplace due to the jobs number.