The EUR/USD pair had a strong showing during the session on Monday, proving the 1.30 level to be supportive yet again. The Friday candle is a shooting star though, so it suggests that we could see resistance come into play here fairly soon. Nonetheless though, you have to recognize the fact that the candle is very strong looking for the session, and we are closing towards the very top of the range – which of course is a very bullish sign. We feel much more comfortable selling this pair though, especially we can get a resistive candle somewhere closer to the 1.32 handle, which might take a day or two to get to.
Written by FX Empire