EUR/USD Forecast: Euro Continues to Struggle Against the USD

The euro has broken down quite a bit during the trading session here on Thursday piercing the 200-day EMA, but we are trying to hang on here. I do think that there is a significant amount of support between the 1.15 level and the 1.16 level and we are at the top of that squishy support region.

I do not necessarily think that any bounce here is going to be a major buying opportunity, but short-term traders may disagree and might be successful. If we do rally with any type of significance, I would be looking at the 1.1750 level as the beginning of serious trouble.