EUR/USD Technical Analysis September 21, 2011

EUR/USD rose during the early hours of the trading session, but fell a bit towards the end of the day on Tuesday as the news got out that the ECB, IMF, and ECB – the financiers of all things Greek bailout-related, are not going to be heading back to Athens until October. Because of this, there is a fair amount of speculation that the Greeks may not be coming as close to an agreement as once thought. The pair fell a bit, and to be honest, there are simply far too many landmines out there in order for us to buy this pair. The gap at the open of the week shows where this pair wants to go. We expect support at 1.35, but that area will almost undoubtedly be tested, and we expect it to give way in the end.

Written by FX Empire