January 27, 2012 8:26 AM GMT
EUR/USD Forecast January 27, 2012, Technical Analysis
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EUR/USD Forecast January 27, 2012, Technical Analysis
EUR/USD rose during the Thursday session as traders continued to sell the Dollar overall. However, by the end of the session, all of those gains were given up as the market formed a shooting star at the top of the recent resistance area. The 1.31 level seems to be a bit strong for the bulls at this point. With this in mind, we are thinking that the pair is setting up for a nice short trade now.(Jan 27, 2012 08:24 AM
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