EUR/USD Forecast December 2, 2016, Technical Analysis

The EUR/USD pair rallied slightly during the day on Thursday, as we continue to consolidate around the 1.06 handle. This is a market that seems to be trying to figure out whether or not it can break down below the massive support at the 1.05 handle. If we can break down below there, I feel that the market then should reach towards the 1.00 handle. Ultimately, short-term rallies should continue to be selling opportunities and with the jobs number coming out today, it’s very likely that we will see quite a bit of volatility that we can take advantage of.

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