EUR/USD Forecast February 17, 2017, Technical Analysis

The EUR/USD pair rallied during the day on Thursday, breaking above the top of the hammer from the previous session, this of course is a very bullish sign. However, the 50-day exponential moving averages just above and I expect that eventually we will see some selling pressure. At the first signs of exhaustion I’m willing to short this market. I’m not willing to buy it, because I see that there is a large amount of resistance near the 1.0750 level. No matter what happens, I think you can expect quite a bit of choppiness.