EUR/USD Forecast May 2, 2014, Technical Analysis

The EUR/USD pair tried to rally during the session on Thursday, but in the end the sellers came into play and push the market back down. The resulting candle of course was a shooting star, and then as a result it looks like the market may pull back into the consolidation area that we’ve been bouncing around in recently. Because of this, we feel that the market is essentially “stuck”, and as a result we feel that the market is going to be the domain of short-term traders, and as a result we feel that the market will be difficult to trade for any significant amount of money.

 

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