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Monday, July 4, 2016

EUR/USD and GBP/USD Forecast July 4, 2016: DailyForex

Published on 1 Jul 2016
The EUR/USD pair had a fairly volatile day on Friday, but did end up forming a positive candle. At the moment, we are testing the bottom of an uptrend line that had previously been very important. Because of this, we could get a little bit of resistance but at this point in time I think the one thing you can count on more than anything else in this pair: volatility. I do not like buying the Euro at this point, I think there are far too many reasons the think that there could be trouble down the road, so I’m waiting to see whether or not we get an exhaustive candle. We do, I will not hesitate to sell this pair. It makes quite a bit of sense that the US dollar will strengthen over the longer term, because quite frankly the only real concern with the US dollar is that there will be any interest-rate hikes soon.

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