The EUR/USD pair initially tried to rally during the day on Wednesday but fell below the 1.09 level again. There is a gap below that should offer support,
The EUR/USD pair initially tried to rally during the day on Wednesday but fell below the 1.09 level again. There is a gap below that should offer support, but quite often these markets tried to fill these gaps, and therefore we could see a little bit of a sell off. I believe that should end up offering a buying opportunity underneath, so I’m waiting to see a supportive candle or a bounce to go long in this particular pair. I believe that the 1.0750 level underneath continues to be the “floor” in the market.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
