The EUR/USD pair rose during the session on Monday, breaking above the 1.32 handle again. This means that we are reentering the consolidation area that we had spent so much time and, because of that we feel that this market will eventually go to the 1.34 handle. As far as selling is concerned, we are not interested in doing it at the moment, but we would be much more interested in selling closer to the 1.34 handle on a resistive candle. With that being the case, we think that short-term traders should do fairly well going long, but eventually this move will run out of steam.
Written by FX Empire