The EUR/USD pair fell initially during the session on Thursday, bouncing later in order to form a hammer. This hammer suggests that we are going to try to
The EUR/USD pair fell initially during the session on Thursday, bouncing later in order to form a hammer. This hammer suggests that we are going to try to make a move above the 1.27 level, and perhaps against the 1.28 handle. The 1.28 handle in our opinion is much more resistive, and as a result we are looking for resistive candles in that area start shorting yet again. We have no interest in buying this market until we break above the 1.30 handle, something that isn’t going to happen anytime soon. Because of that, we will continue to sell rallies.
EUR/USD Forecast September 3, 2014, Technical Analysis
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.
