EUR/USD Forecast September 7, 2016, Technical Analysis

The EUR/USD pair had a very strong session on Tuesday, slicing through the 1.12 level during the day. This of course signifies that we are heading back into the previous consolidation area, and it should reach towards the 1.1350 level. Ultimately, when we pullback from here it’s likely that we will find support at the 1.12 level now that it has been broken. With this being the case, it’s likely that we continue to find choppiness regardless what happens. If we do manage to break down below the 1.1150 level, the market should reach down to the 1.10 level after that.