The EUR/USD pair fell at first on Thursday, but bounced hard in order to form a massive green candle. The 1.34 level above is the resistance area we need to close above in order to start buying, and it does look like the market is trying at this point. However, the breaking below of the 1.32 level would be a negative signal – and have us selling all the way down to the 1.28 level. We think the Federal Reserve and its decision on tapering off of quantitative easing will be the main driver in this pair over the next several weeks.
Written by FX Empire