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Published on Aug 16, 2016
The
Euro rallied during the course of the day on Tuesday, breaking well
above the 1.12 level that I a suggested could be resistive. The fact
that we broke above there tells me that we are starting to see renewed
strength in the Euro again, and on top of that we even managed to come
close to the 1.1350 level that I suggested could be the target on the
breakout. We pulled back rather significantly towards the end of the day
I think what we are getting ready to see is more momentum building on a
drop lower. Because of this, I think that you have to be looking for
buying opportunities now, but on short-term charts only. For myself, I
tend to try to look for better trends then I am seeing in this pair at
the moment.
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