The EUR/USD pair rose during the session on Friday, and closed above the 1.35 level again. Because of this, look like this market is going to try and breakout to the upside, but we need to see a daily close above the 1.36 level in order to be significantly appeased to start buying for any length of time. We still believe that this market could very well chop around between the 1.36 level on the top, and the 1.33 level on the bottom. With that being the case, we are essentially in an area where there is no trade set up at the moment, and will simply wait until we get a clearer signal.
Written by FX Empire