EUR/USD Forecast December 5, 2016, Technical Analysis

The EUR/USD pair fell slightly but then turned back around to form a hammer. The hammer of course is a bullish sign but I think that any rally at this point in time should be a nice selling opportunity on signs of exhaustion. With this, the market should find “value” at higher levels, so if we get an exhaustive candle on willing to jump on it. I have no interest whatsoever in buying this market because I recognize how bearish the Euro is in general. I still believe that we are going to break down below the 1.05 level over the longer term.

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