The EUR/USD pair initially broke out during the course of the week, clearing the 1.15 barrier. This is an area that has been massively resistive in the
The EUR/USD pair initially broke out during the course of the week, clearing the 1.15 barrier. This is an area that has been massively resistive in the past, and quite frankly should have signified a break out to the upside for the longer term. Nonetheless, it looks as if the sellers came into the marketplace and really punish the Euro towards the end of the week. In fact, we even managed to drop below the 1.12 level, which is a very negative sign. Overall, this is a marketplace that is far too volatile for longer-term traders to be involved in.
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.
