EUR/USD Forecast July 26, 2016, Technical Analysis

The EUR/USD pair initially fell during the day on Monday, but turned around to slam into the 1.10 level again. This is an area that had been rather supportive recently, so it should now in theory be resistive. Am waiting to see whether or not we get an exhaustive candle that we can start selling as the Euro will of course have quite a bit of negativity around it, because of all of the uncertainty when it comes to the European Union. With this, I believe there will be a bit of a “safety run” towards the US dollar over time.