The EUR/USD first rose, then fell during the Monday session. The fact that it has broken below the bottoms of two o hammers suggests that some kind of major support in the 1.4250 area might be getting demolished. If we manage to stay under that level – we feel this pair goes down. The pair is in a downward channel, so we sell rallies in general as the world will certainly begin to focus on European debt worries after the debt limit deal is passed in the US.
Written by FX Empire