By FXEmpire.com
The EUR/USD pair fell during the week as the problems in Europe remain in the forefront of traders’ minds. With all the drama going on in the zone, it’s very difficult to buy and hold Euros for any significant amount of time. With this being said, the US dollar of course is the safe haven currency that most traders will pick when things are tough.
It should also be said that the daily chart looks as if it is forming a bearish flag, or at the very least a rising wedge. Either way, we see this as bearish, and will sell the euro on rallies that show weakness. Fading rallies, and closes below the 1.25 level is our strategy for trading this currency pair.
Click here a current EUR/USD Chart.
Originally posted here
