EUR/USD Forecast February 12, 2014, Technical Analysis

The EUR/USD pair tried to rally during the session on Tuesday, but as you can see the market failed to hang onto the gains and ended up forming a shooting star at the 1.3650 level. With that, it appears that the market is going to fall back down and probably try to aim for somewhere near the 1.35 level. The market has been extraordinarily choppy lately, so this would only continue that type of action. With that, we are sellers on a break of the lows, but recognize that we should probably bail out in that position on the first signs of support.

 

EUR/USD Forecast February 12, 2014, Technical Analysis