EUR/USD weekly chart, October 17, 2016

EUR/USD forecast for the week of October 17, 2016, Technical Analysis

The EUR/USD pair fell rather significantly during the course of the week, slamming into the 1.10 level on the bottom. However, there is a significant amount of support in this area, so having said that it’s likely that we could bounce in the short-term. If we break down below the 1.09 level below though, the market should continue to go much lower. Any rally at this point in time should be a selling opportunity given enough time, as the market continues to prefer the US dollar overall, especially against the Euro.

EUR/USD Weekly Fundamental Forecast