The EUR/USD pair fell during the week, but found the 1.05 level to be supportive enough to turn things around and form a hammer. The hammer of course is a
The EUR/USD pair fell during the week, but found the 1.05 level to be supportive enough to turn things around and form a hammer. The hammer of course is a very bullish sign and I believe that we could bounce from here because of the hammer that we had formed during the previous week. However, the short-term chart looks very negative, so I think the take away from here is that is going to be very choppy but probably struggle to break down below the 1.05 level anytime soon.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.