EUR/USD Forecast Nov. 24th, 2011, Technical Analysis

The EUR/USD pair fell hard on Wednesday as traders reacted to a poor German bond auction. The pressure being put on Germany is a much larger deal than some of the other countries, and this move into German marekts by the “Bond Vigilantes” could signal another massive leg down for the EU in general. With this in mind, we like selling rallies still, and think that the 1.31 level will be tested soon. We will not buy the Euro at all.

EUR/USD Forecast Nov. 24th, 2011, Technical Analysis EUR/USD Forecast Nov. 24th, 2011, Technical Analysis

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