The EUR/USD pair rose during the session on Thursday, but gave back about half of its gains for the day by the time we closed. The 1.3050 level continues offer resistance, and the candle almost looks like a shooting star. However, we have a hammer from the session before on Wednesday, and it does look like it is well supported. In other words, this pair seems to be trading right along with news coming out of United States on the so-called “fiscal cliff.” This is a surprise, and we do expect choppy conditions going forward. However, we would be buying this market above the 1.3050 level, and selling it below the 1.29 level that offered support.
Written by FX Empire