EUR/USD Forecast May 16, 2016, Technical Analysis

The EUR/USD pair fell during the course of the session on Friday, dropping down to the 1.13 handle. However, there is quite a bit of bearish pressure and therefore we feel that we will probably reach down towards the 1.12 level given enough time. Ultimately this is a market that will be very volatile, so short-term trades are about the best that we can do at this point in time in our opinion. Longer-term trades are almost something what this point in time as we are concerned about all the choppiness that we would have to deal with.