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Published on Nov 10, 2016
The
EUR/USD pair went back and forth during the session on Thursday, as the
1.0850 level below offered quite a bit of support, but there is most
certainly quite a bit of resistance above. Ultimately, I believe that
sooner or later this market will continue to show bearish pressure and I
believe that given enough time that’s exactly what’s going to happen,
we will break down. However, I think that we may need to see quite a bit
of exhaustion after short-term rallies to turn things around. I believe
that the 1.10 level above is massively resistive, and I don’t think we
are going to break above that very soon. Given enough time, I expect
this market to reach to the 1.05 level below.
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