The EUR/USD pair rallied significantly during the session on Friday, as we are looking to break above the 1.20 level again. If we can, this market should continue to go much higher. I still have a longer-term target of 1.25 based upon longer-term technical analysis, but that doesn’t mean that we can’t be very volatile in the meantime. I look at pullbacks as potential buying opportunities, and believe that eventually the buyers will come out and push this currency pair higher. If we were to break down below the 1.1850 level, that would be very negative and send this market much lower.
Written by FX Empire