EUR/USD Forecast August 11, 2016, Technical Analysis

The EUR/USD pair is rallying yet again, as we continue to go back and forth. Having said that though, I still think that there’s a lot of noise above that could cause resistance. With this, it’s likely that we will continue you back and forth but at this point in time I believe that the Euro will continue to have a bit of a weight around its neck, as there are a lot of concerns in the European Union. Given enough time, I think we may get a little bit more of a clear signal, but at this point I’m very comfortable with sitting on the sidelines.

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