EUR/USD Forecast August 18, 2016, Technical Analysis

The EUR/USD pair went back and forth during the course of the day on Tuesday, showing a bit of indecision after a very impulsive day on Monday. With this being the case, I think that a pullback is probably going to appear soon, but the 1.12 level will be supportive. I think this will be a short-term trader’s type of environment, so having said that I believe that you will have to be very nimble in this marketplace, if you choose to get involved. I believe that the 1.1350 level above will be resistive, so essentially we are bouncing around in the new consolidative area.