The EUR/USD pair went back and forth during the session on Thursday, essentially getting nowhere in the end. It is very neutral candle looks like it’s trying to signal that the market is confused down here, and quite frankly that is not a surprise. With that being said, we believe that the 1.2850 area will continue to offer support in the short term, and therefore a bounce back towards 130 would be a surprise. Alternately, if we did managed to drift lower, it isn’t until we clear the 1.27 handle that things get really ugly, and massively right for shorting.
Written by FX Empire