EUR/USD Forecast February 8, 2017, Technical Analysis

The EUR/USD pair broke down on Tuesday, as the 1.0750 level offered quite a bit of resistance. The market formed a very negative looking candle, and we are now testing the bottom of the 50-day exponential moving average. If we breakdown below the bottom of the candle for the session on Tuesday, I believe that the Euro will continue to sink from here. Alternately, if we can break above the 100-day exponential moving average we could pick up enough momentum to continue going higher. Regardless, it will be choppy and volatile, and you must be very nimble.