The EUR/USD pair rose during the session on Monday as the “risk on” trade was in full effect for most of the trading day. This pair looks ready to aim for the 1.3150 level again, and as a result we are going to be very interested in how price reacts to that area as we approach it.
We feel that we are too far into the rally to buy at this point, and as a result we are actually looking to sell this pair as we get close to the “top” of the resent range. The area has held true over the last several months, and a shooting star or some other sign of weakness at that point would have us selling.
Written by FX Empire