The EUR/USD pair rose during the session on Tuesday, showing underlying strength as we approach the 1.32 level. The market has been bouncing around in the general vicinity of 1.30 – 1.32 for some time now, and as a result we think this pair is going to continue its sideways action overall. However, the action during the Tuesday session was indeed bullish, so we think that there will be a potential attempt to breakout. All in all, we don’t like this pair as there are so many headline risks out of Europe at the moment, and as a result we think that the market is ripe for sudden corrections again and again.
Written by FX Empire