EUR/USD Forecast December 28, 2016, Technical Analysis

The EUR/USD pair had a quiet session on Tuesday as traders are just returning from the Christmas holidays. This is a market that should continue to see resistance on the 1.05 level above, an area that was so previously supportive. Ultimately, I’m looking to sell signs of exhaustion near that psychologically important level, as it should continue to drive the EUR lower over the longer-term. I have no interest in buying, because even if we break above the 1.05 level, there is a lot of noise all the way to at least the 1.07 handle above.