The EUR/USD pair had a negative session on Tuesday as we managed to break back below the 1.31 handle. At the end of the day though, the same area that had proved supportive on Monday showed itself on Tuesday as well, and as a result it appears that the market is simply looking to bounce around in this general vicinity. That being said, we think this market essentially has no trade available at the moment, because there is so much in the way of noise and support just below the current levels, and there certainly is no bullish signal at this moment in time. Because of this, we are flat of this market.
Written by FX Empire