EUR/USD Forecast March 6, 2017, Technical Analysis

The EUR/USD pair bounced off the 1.05 level again, an area that has been rather supportive recently. If we can break above the top of the candle, I think the market will then reach towards the 50-day exponential moving average which is pictured in red. A breakdown below the 1.05 level would be very negative, and that should send this market down to the 1.0350 level, which was the most recent low. Ultimately, I think there’s going to be a lot of negativity and of course choppiness in this market, so it will take a certain amount of wherewithal.