The EUR/USD pair had a positive reaction to testing the 1.05 level, forming a green candle. By doing so, looks as we continue to see lots of volatility but I still think that the 1.07 level above is going to be massively resistive. Because of this, I’m waiting to see an exhaustive candle in a desert selling as I believe longer-term the US dollar will continue to be extraordinarily strong over the longer term. I don’t have that signal yet, so I’m waiting on the sidelines for the opportunity to take advantage of value in the dollar.
Written by FX Empire