EUR/USD Forecast January 28, 2016, Technical Analysis

The EUR/USD pair rallied initially during the day on Wednesday, but turned back around to form a shooting star. The shooting star of course is a very negative candle, but it is preceded by a hammer, and as a result it appears that the market will continue to see quite a bit of volatility going forward. At this point in time, the market seems to be consolidating overall, but we believe that the market should continue to favor the downside in general. Regardless, the one thing that you can count on is a large amount of volatility.