The EUR/USD pair rally during the week, and even broke above the 1.0750 level. However, we turned around and gave back quite a bit of the gains. I think
The EUR/USD pair rally during the week, and even broke above the 1.0750 level. However, we turned around and gave back quite a bit of the gains. I think we are going to grind in an upward direction but we may pull back in the short term. Quite frankly, this is a market that is far too tight to trade from a longer-term perspective, so therefore I don’t have any interest in placing a trade based upon the weekly chart. However, I would say that we broke above the shooting star from the previous week, which shows a significant amount of bullish pressure.
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.