The EUR/USD pair fell significantly during the Thursday session, cracking the 1.3250 level as support. The market did stop however as the 1.3150 area, as it looks to be the bottom of that support area. Because of this, we have a relatively simple set up in store for us. If we managed to break the bottom of the Thursday lows, we think this market continues much lower. As far as buying is concerned, we would be interested in right now as we think the rally would simply offer a selling opportunity. Alternately though, we believe that the Euro does go higher against the Dollar over the long run.
Written by FX Empire