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Published on Aug 5, 2016
The
EUR/USD pair went back and forth during the course of the day,
ultimately settling on a negative candle after we had a better than
anticipated jobs number out of the United States. With this being the
case, it looks as if the markets are trying to reach down to the 1.10
level below, which of course is fairly supportive. Ultimately though, I
think this is a very choppy market, as there are a lot of concerns
coming out of the European Union as well. With that being the case, I
think short-term selling may be possible on rallies, but quite frankly
I’m fairly content to sit on the sidelines at the moment as I believe
the market has to shake itself out in order to figure out where wants to
go next.
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