EUR/USD rose above the 1.39 level finally, sensing some kind of breakout. However, the 1.409 sits just above, and the move in the later hours of US trading was down. The shooting star on the 4 hour chart suggests to us that the pair will continue to struggle at these high levels.
The EUR/CHF pair rose, and then fell for the session, forming a shooting star. The fact that the whole world knows that the Swiss National Bank is willing to defend the 1.20 level, and that there are still people out there willing to short this pair speaks volumes about the believability of the Euro rally.
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