EUR/USD Forecast February 17, 2016, Technical Analysis

The EUR/USD pair initially tried to rally during the day on Tuesday, but turned back around to form a bit of a shooting star. This of course is negative, and it looks like we made test the 1.1050 level for support again. We think that the market will find buyers down here though, so having said that we are waiting to see whether or not we get a supportive candle that we can start going long based upon. One thing that we do know that’s going to happen is that we are going to be very choppy in this marketplace no matter which direction we end up going.