The EUR/USD pair broke down on Tuesday, as the 1.0750 level offered quite a bit of resistance. The market formed a very negative looking candle, and we are now testing the bottom of the 50-day exponential moving average. If we breakdown below the bottom of the candle for the session on Tuesday, I believe that the Euro will continue to sink from here. Alternately, if we can break above the 100-day exponential moving average we could pick up enough momentum to continue going higher. Regardless, it will be choppy and volatile, and you must be very nimble.
Written by FX Empire