The EUR/USD pair initially fell during the course of the day on Monday, and then turned back around to attempt to break out above the 1.28 handle. That
The EUR/USD pair initially fell during the course of the day on Monday, and then turned back around to attempt to break out above the 1.28 handle. That level of course is very resistive though, and we think that the resistance goes all the way to the 1.30 handle. With that, we are not willing to start buying, and quite frankly this makes us look for resistive candles in order to start shorting again. However, if we get above the 1.30 handle, we would feel that the trend is broken and we go higher.
EUR/USD Forecast October 14, 2014, Technical Analysis
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.
