The EUR/USD pair fell slightly during the course of the session on Wednesday, but remains within the hammer that had formed on Tuesday. Because of this,
The EUR/USD pair fell slightly during the course of the session on Wednesday, but remains within the hammer that had formed on Tuesday. Because of this, we could get a bit of a bounce but quite frankly we think there is more than enough resistance above at the bottom of the uptrend line to keep this market lower. With that being the case, we believe that the EUR/USD pair is going to reach towards the 1.06 handle, and then eventually the 1.05 handle. At this point in time, there is no way for us to justify buying this pair.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
