The EUR/USD pair rose during the session on Tuesday, testing the 1.38 level for resistance. That level did in fact offer resistance, and as a result we ended up forming a shooting star. We do not feel that this market is going to pullback significantly though, and that the market could offer a nice buying opportunity below. Until we get below the 1.63 level, we are not willing to sell this market. Alternately, if we break above the 1.38 handle on a daily close, we are also buyers of this market as the Euro should continue to appreciate.
Written by FX Empire