EURUSD analysts recommend waiting for signs of exhaustion after a rally to start getting short again. Here are the levels to watch.
, I don’t really care what the CB does. After all, they are going to raise interest rates soon, but they are so far behind the curve that the euro will continue to suffer.also plummeted a bit during the course of the week, testing the 1.18 level. I think at this point we also have a little bit of a recovery in the British pound, perhaps attempting to get back to the 1.20 level, which is an area that is a large, round, psychologically significant figure. After that, then we have the 1.
I will be looking to fade rallies at the first signs of exhaustion. More likely than not, I will be sitting on my hands at the beginning of the week.USD/JPY pairYes, we could continue to go higher, and you could even make the case for that being true several months ago. However, we are so overdone at this point in time that the
simply does not work out. On pullbacks, I could be a buyer, but I doubt it’s going to be anytime this week. Quite frankly, I would need to see more in the way of a pullback to offer value.has also fallen during the course of the week but has also found quite a bit of support near the 0.67 region. At this point in time, I think the market will continue to try to recover, but the 0.70 level should be a massive resistance barrier that will be difficult to overcome anytime soon.
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