EUR/USD Forecast May 26, 2015, Technical Analysis

The EUR/USD pair went back and forth during the course of the session on Monday, as we continue to bounce around the 1.10 level. This is a market that continues to be attracted to this level, an area that was once resistance, and should now be support. However, it’s quite frankly going to be difficult to place any type of trade in this market, as Memorial Day of course would have affected liquidity. If we can bounce above here, we believe that buying and heading towards the 1.14 level is what we will do next. If we break down below the 1.09 level, then we should head to the 1.06 level.