The EUR/USD pair rose initially during the session on Tuesday, but pulled back and closed just above the 1.28 handle. This market has been rather bearish lately, and it appears that even though we saw a supportive candle during the Monday session, that the market simply will look for opportunities to sell the Euro going forward. This makes sense to me, although we would prefer to see a little bit more of a bounce in order to start selling. Rallies will still be faded as far as we are concerned, and buying the Euro would be a serious thought until we clear at the very least the 1.31 handle.
Written by FX Empire