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.
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.
