EUR/USD Forecast January 30, 2017, Technical Analysis

The EUR/USD pair tried to rally on Friday but gave back most of the gains to form a shooting star. The shooting star sits on top of the 50-day exponential moving average, so we can break down below that moving average, I’m a seller. I should also point out that the weekly candle is also a shooting star, so I believe that we will more than likely see this market try to reach towards the 1.05 level underneath. Alternately, if we can break above the 100-exponential moving average, pictured in blue, I would start buying.