EUR/USD Forecast January 26, 2016, Technical Analysis

The EUR/USD pair rose a bit during the course of the day on Monday, as the 1.08 level continues offer support. We believe that ultimately this market will probably try to go higher but it will simply be a return to the consolidation area. Ultimately, if we can break above the top of the range for the session on Monday, we believe that the market will probably try to reach towards the 1.0950 level. A break down below the 1.07 level would be catastrophic, but at this point in time doesn’t seem to be very likely.