The EUR/USD pair tried to rally during the session on Thursday, but as you can see the 1.31 handle is far too much for the buyers, and we pulled back 50 pips towards the end of the session. Looking at this chart, it’s hard not to notice the fact that the daily candle for the Thursday session has formed a shooting star, and as a result we would think this could really launched the pair lower if we can manage to get below the 1.30 handle. When that happens, we are ready to start shorting for a move of about 300 pips; otherwise we will be on the sidelines.
Written by FX Empire