EUR/USD Forecast October 14, 2016, Technical Analysis

The EUR/USD pair initially fell during the course of the session on Thursday, breaking below the 1.10 level. However, we turned right back around to form a bit of a hammer and therefore I feel that we are going to bounce. After all, we are a bit oversold over the last several sessions, but I think that rally will only offer an exhaustive candle given enough time which means it would offer value in the US dollar. I have no interest in buying, and I believe that the 1.1150 level will be essentially the “ceiling” in the market. - 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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