The EUR/USD pair tried to break higher during the course of the session on Tuesday, but fell again and ended up forming a shooting star for the second day in a row. Because of this, it appears that the market is still extraordinarily soft, but we need to break down below the 1.15 level on a daily close in order to start selling from here. After all, that is a large, round, psychologically significant number, and therefore the buyers should be in the marketplace at that area. We also believe that the 1.18 level above is massively resistive, and as a result we would sell resistive candles in that area also on a bounce.
