EUR/USD daily chart, October 17, 2016

EUR/USD Forecast October 17, 2016, Technical Analysis

The EUR/USD pair fell during the session on Friday, slicing through the 1.10 level at one point. It looks as if the market is trying to grind its way lower, and at this point in time any rally that show signs of exhaustion I’m willing to start selling. Ultimately, the market should then go down to the 1.05 level, but we will see quite a bit of bouncing and volatility all the way down. I have no interest in buying this market, and believe that the absolute “ceiling” above at the 1.1150 level should continue to be massive.