EUR/USD Forecast January 4, 2017, Technical Analysis

The EUR had an extraordinarily volatile session on Tuesday as traders came back. At one point, we made a fresh new low. However, we turned around to form a candle that could be thought of as somewhat supportive. I believe that the 1.05 level continues to offer resistance, and of course there is a lot of noise above there as well. So quite frankly I’m willing to sell this market on signs of exhaustion but not willing to buy it. I still believe that were going to try to get down to the parity level, but obviously, that’s not going to happen today.