The EUR/USD pair rallied during the session on Thursday, but as you can see gave back all of the gains in order to form a shooting star. While this would normally be enough to get us selling, the fact that we have a hammer the day before makes us believe that this is simply confused market at this point in time, and we’re just outlining how much support and resistance there is at the same spot. With that being the case, we do not like this market right now, and will simply sit on the sidelines and wait for some type of clear signal the form again.
Written by FX Empire