EUR/USD Forecast February 3, 2016, Technical Analysis

The EUR/USD pair went back and forth during the course of the day on Tuesday, as we struggled above the 1.09 region. Because of this, looks like we may pullback and continue the overall consolidation that we’ve seen for some time. The 1.08 level below has been massively supportive, so at this point in time we feel that the move to that region will probably be short-term at best, and that we will eventually find buyers down there to turn the market right back around. Volatility is the one thing you can count on, as the market simply has no idea which direction ago.