EUR/USD Forecast January 23, 2013, Technical Analysis

The EUR/USD pair tried to rally during the session on Wednesday, but found far too much resistance in order to continue and keep the gains. The shape of the shooting star of course suggests that more selling could come, but we need to break down below the 1.35 level in order to be comfortable selling. Until then, we are willing to sell, but if we managed to break above the top of the shooting star, we would see this market go to the 1.37 level. Nonetheless, we expect choppy conditions going forward.

 

EUR/USD Forecast January 23, 2013, Technical Analysis