EUR/USD Forecast October 11, 2016, Technical Analysis

The EUR/USD pair fell significantly during the course of the session on Monday, crashing into the 1.1150 level. I believe that there is a significant amount of support just below there, so it is going to take quite a bit of effort to finally break down. However, I do think that’s how this pair is going and short-term rallies could offer selling opportunities going forward. Ultimately, this is a market that will more than likely reach towards the 1.10 level below. The purple triangle that I have on the chart being broken to the upside could be a bullish sign though. - 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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