EUR/USD Forecast October 13, 2016, Technical Analysis

The EUR/USD pair fell again during the day on Wednesday, testing the 1.10 level which has been my target for a few sessions now. With that being the case, I think that a bounce is likely to happen, but I’m willing to wait until we have a short-term rally that we can start selling on signs of exhaustion. I have no interest whatsoever in buying this pair, as I believe the US dollar will continue to strengthen going forward. Alternately, if we break down below the 1.10 level below, we should continue to grind down towards the 1.08 handle.

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