EUR/USD Forecast November 25, 2016, Technical Analysis

The EUR/USD pair initially fell on Thursday, but turned right back around near the 1.05 level. Because of this, we ended up forming a bit of a hammer and it looks like we might get a bit of a bounce to try to build up enough momentum to finally breakdown. I believe that a short-term bounce is coming but I will be waiting for exhaustion to start selling. Alternately, if we breakdown below the bottom of the hammer, I think that the market within reach down to the 1.00 level long term.