The EUR/USD pair initially fell on writing, but found enough support below the 1.15 level to turn things back around and form a hammer. The hammer of course suggests that the market is ready to bounce and perhaps retest the 1.18 level. That is an area that was previously massively supportive, so to retest that for resistance but not be a big surprise. In fact, it is basic technical analysis, so we look at any bouncer that area as a potential selling opportunity based upon if we see some type of resistant candle. On a break of the bottom of the hammer, that is also massively bearish.
