EUR/USD Forecast August 2, 2016, Technical Analysis

The EUR/USD pair went back and forth during the course of the session on Monday, testing the 1.12 level for resistance. This being the case, it’s likely that we will find sellers, but at this point in time it doesn’t look like we are willing to make any real serious move at this point in time. I want to see some type of exhaustion near that I can sell, because quite frankly I think the turnaround has been a bit overdone. It’s not until we break above the top of the uptrend line that we previously broke down through that I would consider buying. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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