EUR/USD Forecast December 5, 2011, Technical Analysis

EUR/USD rose initially on Friday as optimism gripped the markets once again. However, the 1.35 level has proven that it will attract sellers as the pair approaches it, and the candle was red at the end of the session. The outside reversal candle is an ominous sign, and the EU has a couple of meetings this coming week that could spook this market. The breaking of the bottom of the Friday range would have us selling again. The pair isn’t one we buy under any circumstances as the headline risk in the EU are simply too strong at this point.

EUR/USD Forecast December 5, 2011, Technical Analysis EUR/USD Forecast December 5, 2011, Technical Analysis

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