EUR/USD and GBP/USD Forecast July 17, 2017

The EUR/USD pair rallied again on Friday, but still has not broken out. However, we are banging on the door of resistance in the form of the 1.15 level. I think that this market will probably make that move in the next session or 2, especially considering that the British pound has already done it. Because of this, I think that short-term pullbacks will be buying opportunities, but eventually we will break above the 1.15 level and go looking towards the 1.18 level longer term. I have no interest in shorting this pair, the US dollar is most certainly on the defensive. Because of this, although I think it will be volatile I believe that buying is the only thing that you can reasonably do. for more analysis: http://www.dailyforex.com