The EUR USD pair had an extraordinarily violent move to the upside on Friday, breaking above the 1.38 handle. However, you can see that the market pulled back from that area, signifying that perhaps it was more or less a matter of low liquidity than anything else. Because of that, we don’t read too much into this candle, and thereby still think that we will make another attempt towards the 1.38 handle. Selling isn’t necessarily something we want to do, but buying isn’t exactly that exciting either. A short-term scalp to the upside might be about the only trade we see at the moment.
Written by FX Empire