The EUR/USD pair fell hard during the course of the week, slamming into the 1.25 level. That level of course is a large, round, psychologically
The EUR/USD pair fell hard during the course of the week, slamming into the 1.25 level. That level of course is a large, round, psychologically significant number and therefore we would not be surprise at all to see a little bit of a bounce from here. However, we believe that the 1.28 level above is massively resistive, and as a result we would be willing to sell on some type of pullback at this point in time. We have no interest in buying, as we believe that although this market is oversold, it is far too risky to go long of the Euro right now.
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.
