Published on Dec 5, 2016The EUR/USD pair broke higher during the session on Monday, but then turned back around to form a massive green candle. The candle of course is massive, so that shows quite a bit of bullish pressure in this market. We broke above the 1.0750 level during the day, which of course is very bullish but there is a massive amount of resistance at the 1.0850 level as far as I can tell. Am waiting for some type of exhaustive candle after this impulsive move, because quite frankly most of this was probably predicated upon relief of the non-event reaction to the Italian referendum. Ultimately, I think an exhaustive candle will appear, and it will be a nice selling opportunity in this market.

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