EUR/USD Forecast
Chris looks at the upcoming Tuesday, April 28 session in the EUR/USD pair as the market showed a bit of resistance during the Monday session. With the 50 day exponential moving average coming into play, and the 1.10 level above suddenly looking as if the markets going to have to pay attention to it, we believe that the market is getting ready to fire off a trading signal.
If we can break down below the bottom of the shooting star from the session on Monday, we believe that it’s only a matter of time before the market grind its way lower. We like aiming for the 1.06 handle, and perhaps even as low as the 1.05 level. In fact, we don’t really have a scenario in which we want to buy the Euro at this point in time, as there are far too many issues surrounding it.
Below you may find the video