Published on 1 Jul 2016
The
EUR/USD pair had a fairly volatile day on Friday, but did end up
forming a positive candle. At the moment, we are testing the bottom of
an uptrend line that had previously been very important. Because of
this, we could get a little bit of resistance but at this point in time I
think the one thing you can count on more than anything else in this
pair: volatility. I do not like buying the Euro at this point, I think
there are far too many reasons the think that there could be trouble
down the road, so I’m waiting to see whether or not we get an exhaustive
candle. We do, I will not hesitate to sell this pair. It makes quite a
bit of sense that the US dollar will strengthen over the longer term,
because quite frankly the only real concern with the US dollar is that
there will be any interest-rate hikes soon.
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