The EUR/USD pair tried to rally during the session on Tuesday, but you can see that there are plenty of sellers just above the 1.30 handle. The resulting candle is a bit of a shooting star, although the body is probably a bit too thick to really call it that. Nonetheless, this suggests the same thing though, that we will see more selling pressure going forward. Because of this, we know think that this pair will more than likely fall, but this is going to be a noisy and choppy fall to say the least. There is significant support down at the 1.29 handle, as well as 1.28 handle. With that being said, we are sellers on the whole, but need to see the 1.29 handle broken to the downside first.
Written by FX Empire