EUR/USD rose again on Tuesday as the trading world felt slightly bullish. However, the market has shown time and time again that the rallies in the
EUR/USD rose again on Tuesday as the trading world felt slightly bullish. However, the market has shown time and time again that the rallies in the EUR/USD pair are to be sold, and it must be said that we are presently “hanging around” the same levels we have been over the last two weeks. The bounce that one would expect at 1.30 hasn’t really happened, and as a result – we think that the level will more than likely give way before it is all said and done. We see support all the way down to 1.29, and a break below that mark would have us aggressively selling. The rallies are to be sold until this pair can close above the 1.35 mark as well.
EUR/USD Forecast December 28, 2011, 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.
