EUR/USD Technical Analysis September 5, 2011

EUR/USD fell hard on Friday, as the Non-Farm Payroll number disappointed. The pair looks very, very weak at this point, but the range has been established between 1.40 and 1.45 – and as we are getting fairly close to the lower area, we are looking for a bounce. The bounce or rally is what we want to sell. In the mean time there is an ECN meeting in the middle of next week, and that could keep this pair quiet until then.

Written by FX Empire