EUR/USD Forecast November 29, 2016, Technical Analysis

The EUR/USD pair initially rallied on Monday but turned around as the 1.07 level offered enough resistance to start selling the market again. We ended up forming a bit of a shooting star and as a result I believe that given enough time we will break down and trying to test the 1.05 level below. A break below there sends this market looking for parity, and quite frankly I don’t see any way this doesn’t happen given enough time. It doesn’t mean that it will happen right now, so I continue to sell short-term rallies the show signs of exhaustion.