The EUR/USD pair went back and forth during the course of the day on Wednesday, essentially hugging the 1.26 level. This isn’t a big surprise though, as
The EUR/USD pair went back and forth during the course of the day on Wednesday, essentially hugging the 1.26 level. This isn’t a big surprise though, as the ECB has an interest rate decision coming out later today. With that, it will be the statement and the question-and-answer segment that will be the driver of the Euro. Any rally at this point in time, I believe will be a selling opportunity as the 1.28 level above should continue to be massively resistive. I am selling rallies, and believe that this market will head to the 1.25 level given enough time.
EUR/USD Forecast October 2, 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.
