The EUR/USD managed a decent rally for most of the session, but pulled back later in the day. The massive fall over the past several sessions begged for a bounce, and it got it. However, with all of the uncertainty surrounding the EU bailout and the situation in Greece, the markets are decidedly skittish, and especially in this pair. The reactions to bad news show just how much fear there really is. Because of this – we like selling rallies until we get a daily close well above the 1.40 area.
Written by FX Empire