By FXEmpire.com
The EUR/USD pair has been the center of the trading world lately. The issues in the European Union continued to dominate headlines this past week, and as a result we had a strong move. The negative headlines seemingly are endless, and as a result this pair can only fall in the end.
The candle from the session is closing at the very lows, and because of that we think the bearish pressure will continue. The Greeks don’t have their second election until June 17, and there is a real chance that all rallies will be faded by traders until at least that point in time. The 1.30 level above would have to be overcome for the bulls to go long in a longer-term sense in this pair, and we are willing to sell right away if we get a daily close below 1.25 as it would show a continuation of the downtrend.
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Originally posted here
