EUR/USD Forecast October 3, 2016, Technical Analysis

The EUR/USD pair fell initially during the course of the session, turning back around to form a hammer as we bounced off of the 1.1150 level. The hammer that we formed suggested that we are ready to rally from here and perhaps try to reach towards the 1.1350 level. However, there is so much in the way of noise at this point in time that it’s going to be difficult to place any type of confidence in a trade when it comes to this particular pair. With this, I’m on the sidelines for the next couple of days.