The EUR/USD pair rose on Thursday, but found quite a bit of resistance at the 1.05 level. This is an area that was massively supportive in the past, so it’s not a surprise that it is resistive now. The fact that we are starting to form some type of shooting Star also suggests to me that the sellers are going get aggressive. Because of this, I’m willing to sell the EUR/USD pair for a move down to the 1.0350 region. I think we go to parity given enough time, but with it being the last trading day before Christmas, I’m not expecting much in the way of movement.
Written by FX Empire