The EUR/USD pair had a wild day on Monday as it was both wildly bearish and wildly bullish in the same session. The pair had gapped down at the open for the week, but managed to fill that gap by the US morning. The resulting candle is a long-legged doji, and shows that we are very confused at this point. It makes sense as both economies are weak at best, and have massive debt default issues at worst! The candle gives us a fairly simple signal, as you simply go in the direction of a break of the highs or lows. If this pair breaks the lows, we feel that the 1.35 will completely give way, and 1.30 suddenly comes into play. Buying will be capped by the 1.40 area, and the fact that the sentiment is so bearish when talking of the Euro.
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