EUR/USD Forecast June 16, 2016, Technical Analysis

The EUR/USD pair rose slightly during the day on Wednesday, as the 1.12 level offered a bit of support. With this, the market looks as if it is ready to continue to find quite a bit of volatility and perhaps buyers in this particular scenario. I think that this market will continue to be very choppy, and therefore a little bit unstable. Short-term traders will be attracted to this volatility and they do believe that if we are about to see the Euro bounce a bit. However, I would not get married to any long positions at this point in time.

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