The EUR/USD bounced originally during the Friday session to the 1.30 level where it ran into resistance again. The pair is under massive pressure as the Euro is being sold against almost all other currencies. The Euro has a bit of support at the 1.29 level that has to be overcome first for the bears to continue the massive down move, but one has to think that it is only a matter of time. Because of this, we are selling rallies and daily closes below that level. We will not buy this pair under any circumstances now.
EUR/USD Forecast January 2, 2012, Technical Analysis
Originally posted here
