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EUR/USD and GBP/USD Forecast June 28, 2018

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The EUR/USD pair fell significantly during the trading session on Wednesday, reaching below the 1.16 level again, threatening to test the 1.15 handle. At this point, I think it’s rather simple: if we break down below the 1.15 level significantly, it’s going to drive the Euro much lower. Essentially, the 1.15 level must hold to keep the market participants involved in the upside. It certainly seems to be a bit of a “risk off” situation, and that of course favors the US dollar overall as we have plenty of political issues going on in the European Union. If we can hold the 1.15 level, it’s likely that we could eventually bounce. This is a crucial area that I cannot stress enough as being important. The next couple of days will be crucial, but certainly Wednesday is a very negative sign. for more analysis: http://www.dailyforex.com
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