The EUR/USD pair initially fell during the course of the day on Monday, but found enough support at the lows again to bounce. Ultimately, looks like we could bounce a little further but I’m waiting to see whether or not we get an exhaustive candle above that I can start selling. Alternately, and exhaustive candle somewhere closer to the 1.10 level should offer perceived “value” in the US dollar going forward. I have no interest whatsoever in buying the Euro at the moment, as I believe we are eventually going to reach down to the 1.05 level below.
![EUR/USD Forecast October 25, 2016, Technical Analysis](http://c86cb244b7aa82d722df-bc886d861d799bf6b58e79429d5ca9ac.r8.cf2.rackcdn.com/www.fxempire.com/wp-content/uploads/2016/10/eurusd-16.jpg)