The EUR/USD pair went back and forth during the course of the session on Monday, showing that the market is essentially stuck at this point. However, we
The EUR/USD pair went back and forth during the course of the session on Monday, showing that the market is essentially stuck at this point. However, we believe that the uptrend line that that previously held the market up will now offer a significant amount of resistance. We believe that this market is reaching down towards the 1.06 level, and then eventually the 1.05 level. With the Federal Reserve looking likely to have to raise interest rates fairly soon, there is probably little to keep the US dollar from gaining in value.
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.
