EUR/USD Forecast November 16, 2016, Technical Analysis

The EUR/USD pair initially rallied at the open on Tuesday but found enough resistance at the 1.08 level to turn around and form a shooting star that signifies that the market is breaking down even further. Ultimately, a time we get a rally it’s very likely that the market will continue to reach towards the 1.05 level below. I have no interest whatsoever in going long of this market, as the Euro simply cannot get out of its own way when it comes to trading against the US dollar, and it appears that every time we rally it’s a shorting opportunity. - 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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