EUR/USD Forecast July 13, 2016, Technical Analysis

The EUR/USD pair broke to the upside during the day on Tuesday, but turn right back around to form a bit of a shooting star. With this, I believe that the market will continue to favor selling opportunities on short-term moves, and eventually we could break down below the 1.10 level, because the larger term consolidation area between the 1.15 level and the 1.05 level below continues to drive the market overall. I do believe that this market will continue to face quite a bit of bearish pressure as there is a lot of uncertainty in the European Union at the moment.