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Published on Aug 8, 2016
The
EUR/USD pair did almost nothing during the day on Monday, as we
continue to see softness when it comes to the Euro. Ultimately though,
it looks as if the market is rolling over a bit so I believe that we
will probably try to reach back towards the 1.10 level below. That is a
massive support level though, so having said that I feel it is only a
matter of time before the market not only test that area, but I do think
we will more than likely break down below there. Rallies at this point
in time I only have me selling the Euro, as it certainly looks like it
is very difficult for the Euro to hang onto gains at this point in time.
Ultimately, this is a market that is in a range, but I believe that the
overall negativity continues to weigh upon the European Union in
general.
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