EUR/USD Forecast May 11, 2015, Technical Analysis

The EUR/USD pair tried to rally on Friday, but as the Nonfarm Payroll numbers came out, the pair fell back down. The resulting candle is a shooting star, and now is sitting on the 1.12 level. This is a sign of weakness, and with the candle we think this pair could drop back to the 1.10 level as there is a significant amount of support in that area. The pair has been volatile, and should continue to be so. We believe that you will have to be nimble in general at this point.

 

EUR/USD Forecast May 11, 2015, Technical Analysis