There are the possibilities of no rate hike, which would make sense with the drop in , but it seems that we could be looking at Sept. for rate hikes.
This would, in turn, drive the USD UP, subsequently dropping the EURUSD pair. A close above 98.20 ( DOLLAR INDEX ) would require a further break before we see further bullsh action with the USD.
Analysis of our charts shows that there is a very strong at the 38.2% Fibonacci, and we haven't had a close about 1.0930. The zone has been tested numerous times, but we cannot close above it.
Switching over to the Dollar Index , we are currently sitting at 97.89, working on an uptrend from mid-June. If this trend holds true, we may see a quick bounce to the support TL followed by a nice raise into the 98.5-99.* range.
Based off our predictions, we are holding a SHORT position at this point.