The EUR/USD pair had a very positive session on Thursday as the 1.2350 level was it. The market still looks as if it’s in a rising wedge, and there are still plenty of problems in Europe. Because of this, we are still very bearish of the Euro, but we don’t see a particular play to sell it at this point in time. We are simply waiting for some type of week candle from which to sell, or a break down below the uptrend line on the rising wedge. Until we get some kind of move in that vein, we are going to be on the sidelines.
Written by FX Empire