The EUR/USD pair closed the day on Friday knocking on the door of the 1.45 resistance level, and as such – looks very bullish at the moment. However, this level has repelled the bulls several times, and as such, we need to see a close above it to get excited about taking a long position in this market. Until then, we are not willing to get involved as it only takes a bit of bad news to send this pair straight back down. We aren’t sellers yet, but would be if we get an exhaustive candle in this neighborhood. Either way, this market is worth watching on Monday, as it looks like it could break out of this area finally.
Written by FX Empire