EUR/USD Forecast October 19, 2016, Technical Analysis

The EUR/USD pair had a negative day again on Tuesday, as we continue to bounce around the 1.10 level below. At this point in time, it appears that we are going to go lower, and therefore I’m willing to sell any type of short-term rally that shows any signs of failure at all. I have no interest in buying, as we most certainly continue to see negativity in this market and it very well could drop all the way down to the 1.05 level below. However, it’s not going to happen overnight so keep in mind that selling rallies might be the best way.

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