The EUR/USD pair initially tried to rally during the course of the session on Tuesday, finding enough resistance above the 1.10 level to continue to grind
The EUR/USD pair initially tried to rally during the course of the session on Tuesday, finding enough resistance above the 1.10 level to continue to grind this market lower. The market picking down below the 1.10 level was a significant breakdown in my estimation, and the previous rectangle should send this market looking for the 1.08 handle given enough time. I have no interest whatsoever in buying this market, and any rally at this point in time should continue to offer selling opportunities. With this, I believe that all of the problems in the European Union will continue to cause issues in this pair.
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.
