The EUR/USD pair tried to rally during the session on Monday, but as you can see did not hang onto most of the gains the 1.35 level continues to be a magnet for this pair, and as a result we think that this pair will essentially go sideways between now and Friday, which of course nonfarm payroll report day. The employment situation in the United States will drive what the Federal Reserve does, and the entire market is now wondering whether or not they will be able to taper off of quantitative easing between now and the end of the year. With that being the case, we think that this pair does nothing over the next couple of sessions.
Written by FX Empire