The EUR/USD pair had a strong showing during the session on Wednesday, but most importantly could not break above the 1.32 resistance level that has contained the pair for some time now. Because of this, we are not overly bullish, and would not be into we break above the 1.3250 level that the shooting star from two weeks ago touched. More than likely, we will continue to grind sideways meaning that this pair will more than likely drop a bit from here. However, this is a short-term traders market at best, and anything involving more than 50 pips will be difficult to obtain in this environment.
Written by FX Empire