EUR/USD Forecast February 11, 2014, Technical Analysis

The EUR/USD pair rose during the session albeit slightly on Monday. We think this market continues to go higher but should have quite a bit of resistance just above. With that, we don’t feel that it’s prudent to risk our trading capital in this market, and therefore are sitting on the sidelines. It is not until we get a much clearer signal that we would be willing to trade this market, but we do recognize the fact that a pullback here with supportive candles could possibly present a short-term buying opportunity, but we see no ability to sell.