The EUR/USD pair rose during the session on Monday, breaking through the 1.37 level at one point during the day. However, there is a significant amount resistance between here and the 1.38 level, so we think that ultimately this pair will struggle to go higher with any great gusto. With Christmas being tomorrow, it’s almost impossible imagining a situation where you should enter the market with a fresh new position, but if somehow we get above the 1.38 handle, this market certainly looks like it wants to go higher. As far selling is concerned, we don’t really have the interest in doing so at the moment.
Written by FX Empire