The EUR/USD pair initially tried to rally during the session on Tuesday, but as you can see was be back in ended up falling down to the 1.3470 handle. The shape of the candle is a shooting star, so we suggest that perhaps this pair is getting ready to fall back down to the next level support which we see at the 1.34 level. With that being the case, short-term traders will probably start selling, we do not think that there is enough room to get involved at this point for any longer-term short positions. In fact, we are somewhat going to wait to find some type of supportive candle below to start buying.
Written by FX Empire