EUR/USD daily chart, January 31, 2016

EUR/USD Forecast January 31, 2017, Technical Analysis

The Euro broke down initially on Monday, slicing through the 50-day exponential moving average. However, we turned around and showed signs of life again and therefore I think what we are going to see his quite a bit of volatility. I still believe that there is a negative attitude towards this market, but if we managed to break above the 100-day moving average, I believe that the market should turn around and continue to go much higher. Until then, I believe that selling short-term exhaustive candle’s will probably be the best trade.

Watch our EUR/USD Video Forecast: