EUR/USD Forecast April 30, 2014, Technical Analysis

The EUR/USD pair tried to rally during the session on Tuesday, but found enough resistance above to turn things back around and fall. The market close towards the lows of the day, basically predicated upon buying the less than anticipated inflation numbers out of Germany. With that, we are still within the consolidation area though, as we see the 1.38 level is been rather supportive. Nonetheless, we are waiting to see either a significant break down, or some type a supportive candle in order to place a cell or by position. In the meantime, we are on the sidelines.