EUR/USD Forecast September 19, 2016, Technical Analysis

The Euro fell rather sharply during the course of the day on Friday, slamming into the 1.1150 level. However, this is an area that is very important in general so I would not be surprise at all if we turn things back around and start bouncing. On the other hand, if we break down below the level significantly, I don’t see any reason why this market does reach down to the 1.10 level. I am bearish overall, so I think any rally should be a selling opportunity on signs of exhaustion above.