The EUR/USD pair fell initially during the course of the day on Friday, but turned back around to form a bit of a hammer. The hammer of course suggests that the buyers are getting involved in on a break above the top of the candle, we believe that this market will then reach towards the 1.10 level yet again. This would be simple consolidation continuing, which is the way this market has been behaving for some time. A break down below the bottom of the hammer of course is negative, and could send this market looking for the 1.06 handle.
