The EUR/USD pair tried to rally during the session on Wednesday, but as you can see failed to hang onto much of the gains. In fact, we did not close above the 1.36 handle, which is what we were looking for in order to start buying this pair. The fact that we formed a shooting star simply tells us that we will more than likely grind our way sideways between here and 1.35 handle in the short term, and as a result we are on the sidelines. If we do get a break above the top of the shooting star though, we would be buyers at that point.
Written by FX Empire