EUR/USD Forecast October 26, 2016, Technical Analysis

The EUR/USD pair initially fell during the course of the day on Tuesday, but found the 1.0850 level to be supportive enough to turn things around and form a bit of a hammer. The hammer of course is a bullish candle, and I feel that if we break above the top of the candle, we should rally for the short-term but I am looking at that short-term rally as a selling opportunity on signs of exhaustion. I have no interest whatsoever in buying this market, and I believe that the 1.10 level above continues to be the “ceiling” in this pair.

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