EUR/USD Technical Analysis Aug 1, 2011

The EUR/USD pair fell, and then rose on Friday, as traders really don’t which side of the Atlantic is worse right now. Because of this, the pair will be choppy at best. However, if the markets get a deal out of Congress that it likes in the debt limit discussion, this pair could turn decidedly bearish. We look to sell rallies because we think it is only a matter of time before common sense prevails in DC.

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