EUR/USD Forecast April 16, 2013, Technical Analysis

The EUR/USD pair fell during the session on Monday, as the “risk off” attitude came back into the marketplace. The 1.31 level offered resistance as we had suspected it would, but you can see that the 1.30 level offered enough support to cause a significant bounce. Because of this, we think this market will continue to be choppy, and we are essentially going to stay on the sidelines until we can break well above the recent high from last Thursday, or break down below the 1.30 level in order to start selling off.

 

EUR/USD Forecast April 16, 2013, Technical Analysis

Written by FX Empire