The EUR/USD pair tried to rally during the session on Friday, but as you can see barely when anywhere in gave up half of what little bit of gains it did get. This tells us that the market is ready to fall, as the shape of the candle is most definitely a shooting star. However, we do not look to sell this pair as we believe it will simply be a pullback that buyers will step in and take advantage of. That being the case, we are simply on the sidelines waiting for some type of supportive candle below, or a break of the top of the shooting star which of course is a strong sign of bullishness as well.
Written by FX Empire