EUR/USD Forecast November 10, 2016, Technical Analysis

The EUR/USD pair initially tried to skyrocket during the day on Wednesday, as we had seen quite a bit of negative reaction initially to the US election of Donald Trump as the 45th president. Ultimately, the market looks as if it has turned around completely, as we have formed one of the largest hammers I have ever seen. We initially trying to rally all the way to the 1.13 level above, but found enough resistance to turn things around and break down all the way to the 1.09 handle. Because of this, it’s likely that we will continue to reach even lower, perhaps the 1.08 handle. However, this is a market that is most certainly oversold. - 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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