EUR/USD forecast for the week of May 2, 2016, Technical Analysis

The EUR/USD pair broke higher during the course of the week, clearing the top of the shooting star from the previous week. This is a market that has a lot of resistance of the 1.15 level, and as a result if we can get above there, the market should continue to go much higher. As far selling is concerned, we don’t have any idea of selling at this point in time because the buying pressure continues to be strong. We are bullish, but we have to wait until we get a break above the 1.15 handle.