The EUR/USD pair initially fell during the session on Wednesday, but as you can see found enough support below in order to pop up and form a hammer. Because of this, if we get above the highs for the session on Wednesday, we are more than willing to start buying this market as we should see the 1.40 level fairly soon. This market is obviously supported by a lot of buyers out there, and with the Federal Reserve looking unlikely to taper off of quantitative easing anytime soon, we see absolutely no chance of selling this market.
Written by FX Empire