EUR/USD Forecast September 5, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
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The EUR/USD pair tried to rally during the session on Tuesday but failed. The 1.27 level above is still the top of this massive resistance area, and we are not buying this pair until we get above that point. Because of this, the shooting star that was formed for Tuesday is very interesting, and we would be remiss if we didn't pointed out. It now looks as if a move below 1.2450 is a very bearish sign, and would bring out the sellers.

We are selling below that level mentioned above, and not buying until we get above 1.27 or so. In the meantime, there is a very high probability of choppy trading conditions, and as such there are easier trades out there to take.

EUR/USD Forecast September 5, 2012, Technical Analysis

EUR/USD Forecast September 5, 2012, Technical Analysis

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