The EUR/USD pair initially fell during the week but found enough support near the 1.05 level to turn things around to form a hammer. The hammer of course
The EUR/USD pair initially fell during the week but found enough support near the 1.05 level to turn things around to form a hammer. The hammer of course is a bullish sign and I think that we will probably break a little higher from here. If we can clear the top of the weekly candle from the previous week, the market could go to the 1.10 level. Alternately, we breakdown below the bottom of the hammer from the week, I think that the market could go all the way down to the 1.03 level. This could be an interesting week.
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.
