The EUR/USD pair shot up during the week, but pullback at the 1.33 handle in order to form a shooting star. This shooting star sits right on top of the
The EUR/USD pair shot up during the week, but pullback at the 1.33 handle in order to form a shooting star. This shooting star sits right on top of the 1.3150 handle, which of course as you know has been significant resistance lately. With that being the case, a break below that would in fact be a sell signal that could send this pair back down to the 1.29 handle in relatively short order.
Alternately, if we managed to break the top of the shooting star from this past week, that would be an extremely bullish sign. We see quite a bit of noise all the way up to 1.34, and as such think that any gains will be hard-fought.
EUR/USD forecast for the week of December 24, 2012, 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.
