EUR/USD Forecast November 2, 2016, Technical Analysis

The EUR/USD pair had a very strong day during the Tuesday session, breaking above the 1.10 level, and testing the 1.1050 handle. At this point, if we can break above there the market will more than likely go reaching towards the 1.1150 level, but I still believe that the downward pressure will continue against the Euro, as there are serious and major underlying concerns, such as far right parties leaving the polls in both France and Holland, as well as the potential of an interest-rate hike coming out of the United States. With this, I am simply waiting to see signs of exhaustion to start selling.

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