EUR/USD Forecast April 17, 2012, Technical Analysis

The EUR/USD found the 1.30 level supportive yet again on Monday. The pair bounced hard, and finished the session above the 1.31 level as the support was so strong. However, the pair certainly cannot be bought in the long run, and we like selling it from higher prices when offered the chance. The rallies are to be sold, and although the session closed close to the top of the range, we aren’t willing to buy at this point. In fact, 1.32 is probably going to be a bit too rich for this pair, and as a result we are willing to sell on the first sign of weakness – even on shorter time frames.

EUR/USD Forecast April 17, 2012, Technical Analysis

Written by FX Empire