EUR/USD Forecast March 3, 2017, Technical Analysis

EUR/USD daily chart, March 03, 2017

The EUR/USD pair fell during the Thursday session, testing the 1.05 level for support. It did find a little bit there, so it’s likely that the market will bounce, but I would suggest that the bounces are getting smaller and smaller as time goes on. Eventually, the market will probably break down below the 1.050, sending the value down to 1.0350. Rallies continue to be sold as far as I can see, and thus I have no interest in trying to buying this pair. The US dollar continues to be one of the strongest currencies.