The EUR/USD pair initially tried to rally during the course of the session on Monday, but found far too much in the way of resistance as we turned back
The EUR/USD pair initially tried to rally during the course of the session on Monday, but found far too much in the way of resistance as we turned back around to form a shooting star. With this, the market looks as if it is ready to head down to the 1.10 level, and as a result we are sellers on a break below the bottom of the range. However, we do not expect this market to make any significant moves, so we will take profits rather quickly. We look at this as the very short-term market, and will treat it as such.
EUR/USD Forecast August 18, 2015, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
