EUR/USD daily chart, September 30, 2016

EUR/USD Forecast September 30, 2016, Technical Analysis

The EUR/USD pair initially fell during the course of the day on Thursday, but then turned right back around to form a hammer. This coincides with the hammer from Wednesday, so at this point in time I do think that the buyers are starting to gain more strength. However, you can see that I have a downtrend line drawn on the chart, so it’s not until we break above there that I’m comfortable buying. In the meantime, I’m going to sit on the sidelines of this pair has been extraordinarily choppy, and therefore it’s almost impossible to place any type of trade for any real length of time.