EUR/USD Forecast August 29, 2016, Technical Analysis

The EUR/USD pair continues to show weakness and lofty levels. I believe that this market is going to continue to consolidate between the 1.12 level, and the 1.1350 level on the top. At this point in time, we are in the least liquid weeks of the year so I’m not expecting much in the way of major moves. However, I do recognize that a short-term selling opportunity may be presenting itself. Ultimately, I think that the real moves come in a couple of weeks as the volume picks up and holidays end.