EUR/USD daily chart,October 7, 2016

EUR/USD Forecast October 7, 2016, Technical Analysis

The EUR/USD pair fell rather significantly, and as a result we slammed into the 1.1150 level. A break down below the 1.11 handle would be reason enough to expect this market to drift down to the 1.10 level after that. Rallies at this point in time will probably be the best way to sell this market on short-term exhaustive candles. Because of this, I think that any knee-jerk reaction to the upside after the nonfarm payroll number could be a nice opportunity. Ultimately though, the one thing I think you can count on is going to be volatility.