The EUR/USD pair gained during the session on Wednesday, breaking above the 1.35 level again. However, by the end of the session the Euro was pushed below the 1.35 line in order to form a shooting star. The shooting star looks like one that signals the Euro is going to start failing at this point time, and as a result we believe the short term selling opportunity has presented itself. A break below the lows from the session on Wednesday is a sell signal, albeit for roughly 100 pips or so. We are not looking for some type of massive meltdown, simply a pullback as this pair cools off.
Written by FX Empire