The EUR/USD pair fell during much of the session on Wednesday, but as you can see bounced enough to form a decent looking hammer and close above the 1.30 level. With that being the case, it appears that we are going to grind our way higher in what seems to be a fairly decent consolidation area between the 1.30 and 1.32 levels. That being the case, we think that a break of the highest the candle could provide a short-term buying opportunity, but we have to admit that the Euro look strong or against other currencies at this point in time, and we will more than likely be involved in those markets first.
Written by FX Empire