EUR/USD Forecast May 12, 2016, Technical Analysis

The EUR/USD pair broke higher during the course of the day on Wednesday, clearing the top of the shooting star that formed on Tuesday, as well as the one that formed on Monday. With that being the case, the market looks as if it is trying to grind its way higher, perhaps reaching towards the 1.15 level above. At this point, pullbacks should continue to be buying opportunities, as the market certainly looks well supported below, and given enough time we could even break out above the 1.15 level as we go even higher over the longer term.

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