The EUR/USD had an extraordinarily positive day after the FMOC minutes came out revealing that several of the Federal Reserve members on the committee were thinking that employment numbers needed to be stronger in order to taper off of quantitative easing. That being the case, the markets have to readjust their anticipation of quantitative easing being cut back, and as a result the Euro gained. Nonetheless, it should be mentioned that the 1.30 level did in fact offer quite a bit of resistance, and the market stopped right at that area. Nonetheless though, we need to see some type of resistive candle in order to start selling.
Written by FX Empire