The EUR/USD pair tried to rally during the session on Friday, as the 1.30 level was hit during the day. This level offered enough resistance in order to see the market fall back down and form a shooting star. We believe that this price action suggests that the market will continue to consolidate clean the 1.30 level on the upside, and the 1.28 level on down. Going forward, we think that a break of the bottom of the Friday lows would be good for a small short position, but only aiming for about 75 pips or so. If we do manage to break above the 1.30 level, we think this market will head to the 1.32 handle.
Written by FX Empire