EUR/USD rose during the session on Tuesday originally as the pair pulled back from its recent fall, just like the EUR/GBP pair did. The pair is certainly in a down trend, and the fact that the gains couldn’t be held only sends home the message of how weak the Euro really is. The shooting star is formed at the 1.28 level essentially, and this would be a good sell signal if we break below the bottom of that candle going forward. We simply will not buy the Euro at this moment in time. We also expect 1.26 to offer some decent support if we fall.
Written by FX Empire