The EUR/USD pair fell hard on Tuesday as the Federal Reserve released its minutes of the last meeting. The lack of any real support for another round of quantitative easing sent people back into the Dollar, and this of course sent this pair down.
The breaking of the previous hammers suggests that this was a serious break of support, and as a result we are willing to sell on a break of the Tuesday lows. The market looks as if it will run back to the 1.30 area if this pair falls. The buying of this pair simply doesn’t interest us at this point in time, as there are far too many headline risks.
Written by FX Empire