EUR/USD Forecast April 24, 2014, Technical Analysis

The EUR/USD pair tried to rally during the session on Wednesday, but failed to hang onto most of the gains. Because of this, we formed a massive shooting star, which suggests that we are going to fall from here. However, the 1.38 level below is rather supportive, and as a result we feel that the market will struggle to fall here as well. Because of that, the market is simply going to be difficult to trade, regardless of your particular bias. At this moment time, we are on the sidelines as is market looks rather confused.

 

EUR/USD Forecast April 24, 2014, Technical Analysis