EUR/USD Forecast April 18, 2017, Technical Analysis

EUR/USD daily chart, April 18, 2017

The EUR/USD pair rally during the day on Monday and relatively thin conditions as Europeans would’ve been celebrating Easter Monday. Because of this, I think that we will have to pay attention to the possibility of resistance near the 1.07 handle, and an exhaustive candle should be a selling opportunity. The 1.0750 level above is massively resistive, so I’m waiting to see if we can get some type of exhaustive candle to start selling, as I believe that we will continue to see a lot of choppiness. Alternately, if we break above the 1.0750 level, that should be a very bullish sign.

Written by FX Empire