The EUR/USD pair fell during the session on Wednesday, breaking below the 1.30 level yet again. In fact, we even managed to test the 1.29 handle, make a fresh new low at one point during the session. However, we got a little bit of a bounce so it appears that this market will still continue to be a short-term trader’s type of environment. We most certainly favor the downside at this point, although would not be hanging onto any particular trade for any significant amount of time. There is quite a bit of noise below, and as a result the next 200 pips or so are going to be very hard-fought. With that being the case, it’s much easier to simply trade the Euro against other currencies, but if you find yourself in this market make sure to take profits often.
Written by FX Empire