The EUR/USD pair fell during most of the session on Tuesday, piercing the 1.30 level. This area has been the bottom of the recent consolidation, and as a result we feel that this market may simply continue to bounce around because the breakdown wasn’t anything significant. In fact, it will take a break of the lows for the session on Tuesday in order for us to start selling at this point in time. If that does happen, we think that the market moves down the 1.28 in choppy fashion, and as a result we are not overly excited about being involved. In the big scheme of things, this is one of the more difficult pairs to trade at the moment, and we do feel that consolidation is probably likely between the 1.30 and the 1.31 levels.
Written by FX Empire