EUR/USD Forecast January 29, 2016, Technical Analysis

The EUR/USD pair rose somewhat significantly during the course of the session on Thursday, but we still find yourselves just below significant resistance as we are still within the consolidation area that we have been trading in for some time. Because of this, we are waiting to see whether or not we get an exhaustive candle just above in order to start selling, which would just continue the consolidation. However, if we break above the 1.1050 level, we feel the Euro will continue to go much higher at that point in time, and become a longer-term “buy-and-hold.”.