EUR/USD Forecast November 1, 2016, Technical Analysis

The EUR/USD pair fell during the day on Monday, but did get a little bit of a left towards the US afternoon as the 1.09 level offers quite a bit of support. Ultimately, I believe that this market will try to break above the 1.10 level, but there is a significant amount of resistance in that area. An exhaustive candle could be a selling opportunity, and as a result we could reach back down to the 1.0850 level. It is not until we break above the 1.1075 level that I think we can start buying with any type of confidence.

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