Video Analysis – EUR/USD February 17, 2015

Looking at the EUR/USD pair, you can see the Monday was a fairly quiet session. This isn’t much of a surprise though considering that the Americans were away with the Presidents’ Day holiday, so therefore liquidity may have been a bit of an issue. The pair still continues to see resistance above at the 1.15 handle though, so the analysis is probably going to be the same anyway.

There is a cluster above there that should continue to pushes market lower, so I am looking to sell this market on resistive candles. I recognize that the 1.11 level below is supportive, and that the market is probably going to be choppy between now and then. With that, I believe that there are selling opportunities on short-term charts, again and again as the Euro continues to struggle in general.

Ultimately, I feel that we will test the bottom of the consolidation area, and that there is no interest on my part in going long of the Euro with the various problems that we have with it.