Update on EURUSD: May 24, 2016

We’ve had a nice run with EURUSD.  Back on February 29, we forecast a bounce on the bottom of a rising red channel. 2016-02-29 EURUSD daily 1800 Two days later, we had a near miss.  A week after that, the pair took another swipe at it before experiencing the biggest intraday reversal of the year.2016-04-18 EURUSD daily 1842On April 18, we forecast a spike up to 1.1577, the top of the red channel, and were rewarded with a sharp reversal there on May 3.    With EURUSD having shed over 4% since then, what might be in store for the beleaguered pair?

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