The EUR/USD pair had a positive session on Thursday, but as you will notice on the chart managed to struggle once it got above the 1.31 handle. We had mentioned recently that this level could be trouble for the buyers, and it does look like it continues to be so. However, we cannot deny the fact that the pair has been rather tenacious when it comes to try to breakout above it. With that being said, if we can manage to break the will of the Wednesday shooting star, we are more than willing to start selling the Euro at that point. Otherwise, we are willing to buy above the high for the session on Thursday. In the meantime, we simply think this market will bounce around in a choppy short-term manner.
Written by FX Empire