The EUR/USD pair fell hard on Monday as German Finance Ministers stated that the “solution to the EU problems aren’t going to be announced in a few short
The EUR/USD pair fell hard on Monday as German Finance Ministers stated that the “solution to the EU problems aren’t going to be announced in a few short days”, which seemed to be what the market was expecting. The trend has been down, and the 50% retrace has held intact overall. The Euro continues to be plagued by indecision and high anxiety about the debt issues, and as far as we call tell – will continue to do so. The pair should be sold on rallies at this point, at least until the market makes a new high. The 1.40 level above should be massive resistance as well, should this market reach that level.
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.
