The EUR/USD pair fell hard, rose, fell again, and then finally rose during a wild session in the markets on Wednesday. The pair is decidedly bearish, and looks like a sell by most accounts. The chart does look like the EUR/USD wants to bounce, and that wouldn’t be much of a surprise given the ferocity of the fall over the last couple of weeks. However, we don’t buy as we think there are simply far too many issues that can pop up at any time and send this pair back down. We still like selling rallies, and would expect 1.38 and 1.40 to be resistive.
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