Forex pairs in this Article » EUR/USD
EUR/USD pair rallied most of the week, but as you can see, struggled to get above the 1.38 level. The pullback caused a shooting star to happen, and because of this I expect the market to pull back even farther. The 1.36 level below should be supportive, but I could also see the possibility of a move as low as 1.33 if we get below that aforementioned 1.36 support area. The end of the year could also cause a few liquidity issues, so perhaps we just chop sideways. In the end, I think we will eventually find buyers to push this market to the 1.40 level. The question now is whether or not we pullback first. EUR/USD pair. The market failed to keep the gains above the 142 level, and formed a shooting star. This shooting star says that the market could very well pull back to find support. The 135 level below is the “floor” as far as I can tell in this pair. It is the end of the year though, so I think that the market could simply grind lower instead of falling. I am a buyer anywhere lower than current pricing, and a break of the top of this candle also is a reason to go long as well.