The EUR/USD pair rose during the session on Wednesday as the bullishness continues. However, the market still looks like it is trying to consolidate between the 1.3150 and 1.33 levels. This market seems to be “stalling” at the moment, and as a result we think that this pair will continue to struggle to find any real traction between now and the end of the year.
A break above the 1.33 level would have us buying again, and in full force. However, we think the “fiscal cliff” talks will continue to push this pair around, and it looks as if that situation is stalling at the moment. Because of this, we think this pair goes nowhere until next year.
Written by FX Empire