EUR/USD Forecast May 23, 2016, Technical Analysis

The EUR/USD pair found support at the 1.12 level, but did not bounce much. This being the case, we will probably try to grind higher but that’s about all we anticipate. We could go as high as the 1.14 level, possibly even the 1.15 level as well. There is no interest on our part of placing large amounts of money in this market, but do recognize that we could see a nice short-term buying opportunity. If we break down below the lows from the Thursday session, we will more than likely try to reach down towards the 1.10 handle.