The EUR/USD pair fell during the course of the week, but found enough support below the 1.1150 level to turn things back around and form a hammer.
The EUR/USD pair fell during the course of the week, but found enough support below the 1.1150 level to turn things back around and form a hammer. Ultimately though, if we can break down below the bottom of the hammer, the market should then drop down to the 1.10 level after that. I have no interest in buying this market, but to be honest with you it’s probably going to be easier to trade this market off of shorter-term charts than anything else. Because of this, I will probably forgo longer-term trades at the moment.
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.
