The EUR/USD pair fell again for the Tuesday session as the Federal Reserve failed to suggest that further quantitative easing is on the way. This strengthened the Dollar, and the Euro took it hard. The 1.31 level has been the start of serious support, and this level goes all the way down to the 1.29 level to form a “super cluster” of buyers. This pair remains bearish overall, but it is going to take something a bit special to break it down at this point. Because of this, we are flat until we get a daily close below the 1.29 level, at which time we would sell. Rallies can be sold as well, on the first signs of weakness.
Written by FX Empire