EUR/USD Forecast May 10, 2016, Technical Analysis

The EUR/USD pair initially tried to rally during the course of the session on Monday, but turned right back around to form a shooting star. That being the case, the market looks as if we’re going to try to grind lower. However, there is quite a bit of support below and noise of course, so having said that it’s likely that the sellers will get involved, but the noise will make trading this market quite difficult. On the other hand, a break above the top of the shooting star for the session on Monday would be very bullish.