EUR/USD Forecast July 7, 2016, Technical Analysis

The EUR/USD pair initially fell during the course of the session on Wednesday, but turn right back around and form a hammer. The hammer of course is a bullish sign and we could very well could reach towards the top of the candle from the previous session, as we would test to find resistance yet again. Ultimately, this is a very volatile market but I still believe longer-term the Euro will continue to fall against the US dollar. After all, there are a lot of concerns as to what’s going to happen in the European Union in the future.