Euro Finds Bid But Downside Risks Remain
Getting short the EUR/USD again proved profitable last week as the pair would hit my target of 1.2500 and fall to a four year low of 1.2218. The sharp pull back follow the historic low led me to take some profits. However, I continue to see downside potential below 1.2000 and will look toad positions if I see current bullish momentum begin to fizzle. I am looking for 1.2500 to hold as resistance, a break above would keep me on the sidelines until the pair breaks back below the psychological level.
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