The EUR/USD pair has gone sideways during the session on Tuesday, as the sellers were pushed back. However, we are in a downtrend channel over the last 3
The EUR/USD pair has gone sideways during the session on Tuesday, as the sellers were pushed back. However, we are in a downtrend channel over the last 3 sessions, so I’m going to wait until we break above the downtrend line to start buying. If we do have that move, I think that the 1.20 level will be tested, and a move above there would be bullish. Longer-term, the pair is still bullish, and this pullback has been somewhat steady, but in the end, it should be very healthy. Ultimately, the market should then go to the 1.25 handle.
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.
