EUR/USD Technical Analysis August 9, 2011

The EUR/USD pair fell on Monday, continuing the downward pressure that we have seen in this market for a while. The two purple lines on the chart point out how this pair has gradually fallen over the last several months. This pair is a “sell only” pair now, and as such we don’t buy. The idea of owning whatever issues going on in Europe is ridiculous. The pair may bounce, and if it does – we sell.

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