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EUR/USD Forecast October 6, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 06 October 2016 06:43 UTC
EUR/USD had a very volatile session during the course of the day as Wednesday was simply a back-and-forth type of grind. The market seems to have quite a bit of support below at the 1.1150 level, which is the bottom of what I see as an ascending triangle. I think if we can break down below the 1.11 level, we should continue to grind lower and reach towards the 1.10 level below. Rallies at this point in time should have plenty of selling pressure above, so an exhaustive candle is reason enough to short as well. I have no interest in buying.

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