EUR/USD Forecast March 14, 2017, Technical Analysis

The EUR/USD pair initially tried to rally on Monday, but found enough resistance of the 100-day exponential moving average to turn things around and form a shooting star. The shooting star of course is a negative candle, and I think the sellers are probably going to come back in and start pushing lower. The breaking of the bottom of the daily range should send this market looking for the 1.0550 level again, and then possibly the 1.05 handle. I believe that the EUR will continue to suffer at the hands of quantitative easing, and therefore attract sellers repeatedly.

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