The EUR/USD pair initially tried to rally during the course of the week, but then turned around to form a bit of a shooting star. The shooting star of
The EUR/USD pair initially tried to rally during the course of the week, but then turned around to form a bit of a shooting star. The shooting star of course is a negative sign, and it now seems as if we are going to reach towards the 1.05 handle. A break down below there could open the door to the parity level, but quite frankly the one thing that we know we are not going to do is buy this pair. We feel that the resistance above from the previous ascending trend line should continue to put quite a bit of pressure on this 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.
