EUR/USD rose as the Fed announced that it was keeping rates on hold until the middle of 2013. This sets up the USD for more weakness over time, but in the interim, the markets will continue to be nervous as there are so many unknown variables out there right now. The EUR/USD is still in the downward channel, and as such – we only sell at this point. If we can break the 1.45 level, we would have to reassess our opinion. We are looking for weak candles to sell at this point.
Written by FX Empire