EUR/USD Forecast Nov. 23rd, 2011, Technical Analysis

EUR/USD continues to be the epicenter of the storm as traders went back and forth on Tuesday. The pair rose during the session, but finished the day to form a shooting star at the 1.35 area. The pair is decidedly bearish, but there seems to be a ton of support between 1.35 and 1.34 – based upon the bounces that we have seen. The debt markets in the EU continue to weigh heavily on this pair, but the grind lower have been very slow and brutal. If you are to short this pair, be prepared to be very patient. A bounce in this pair invites more selling if we get it.

EUR/USD Forecast Nov. 23rd, 2011, Technical Analysis EUR/USD Forecast Nov. 23rd, 2011, Technical Analysis

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