EUR/USD Forecast April 23, 2014, Technical Analysis

The EUR/USD pair tried to rally during the session on Tuesday, but fell from the 1.3835 level to form a shooting star. This suggests that the market is going to continue falling from here, and that a significant amount of support below will be tested. However, we feel that the market will be overly choppy, and as a result we will stay out of any selling opportunities at this point. On the other hand, if we can break above a couple of these long wicks, we might consider taking a short-term buy in this market.

 

EUR/USD Forecast April 23, 2014, Technical Analysis