The EUR/USD pair fell apart on Wednesday, as the 1.20 level has offered too much in the way of resistance, and of course there is word that a potential
The EUR/USD pair fell apart on Wednesday, as the 1.20 level has offered too much in the way of resistance, and of course there is word that a potential tax deal may be in the works. That of course helps the US dollar, and falling to the 1.19 level makes a lot of sense, as it is the next large, round, psychologically significant number. We could get a bounce from here, and I think short-term traders may try to pick up some value. However, if we break down below the 1.1880 level, I think the market will probably go down to the 1.18 level next.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
