EUR/USD Price Forecast – Euro falls in turbulent session

The Euro fell during the day on Thursday, reaching down to the 1.1675 level as we broke through a couple of minor barriers. · FX Empire

Christopher Lewis

Updated Thu, Sep 27, 2018, 10:45 PM

The EUR/USD pair fell during the day on Thursday as we fell through a couple of minor barriers. Worries about Italian debt are starting to creep back into the market, as is the cycle of currency trading. It seems like we have a couple of months where traders worry about what’s going on in America, in this pair rises. Then, almost like clockwork, we get some time where we are worried about the ongoing issues with the European banking system, and this pair falls. Overall, I don’t think this is a meltdown, I think it is simply a scenario where we are trying to pull back and find value. Now that we have cleared the 1.17 level, I would not be surprised at all to see this market sell rallies and perhaps drive the pair back down towards the 1.15 level which is the bottom of the overall consolidation that we have seen over the last few months.

With that being the case, we now can begin to focus on consolidation yet again and recognize that the break out above the 1.18 level will have to wait. That being said, we are now entering a phase where every 50 pips or so you will start to see buying and selling. Use this as a cue to stick to the short-term charts, but right now I think you should probably expect to see more selling than buying. If you are patient enough and wait for the proper set up, you should be able to take advantage of this scenario, giving you the ability to profit in short bursts.