EUR/USD Forecast November 4, 2016, Technical Analysis

The EUR/USD pair had a very volatile session during the day on Thursday, as we slammed into the 100-day exponential moving average. At this point, I recognize that there is a significant amount of resistance all the way to the 1.1150 level above, so therefore I think that it will more than likely see this market go lower. A break down below the bottom of the range for the session on Thursday would be a very negative sign and should send this market down to the 1.10 level below. I have no interest in buying the Euro as there is so much resistance above.

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