EUR/USD Forecast July 16, 2014, Technical Analysis

The EUR/USD pair fell during the session on Tuesday, breaking below the lows from the past couple of weeks. However, we see a significant support region at the 1.35 handle, so we are simply waiting to see this market will test that area and find buyers. With that, we would be very interested in going long on a supportive candle, but we do not have it at the moment obviously. We are still in the middle of the consolidation area in general, so we feel that staying out of the market is probably going to be the way to go at the moment.

 

EUR/USD Forecast July 16, 2014, Technical Analysis