The EUR/USD pair went back and forth during the session on Tuesday, essentially forming a hammer at the end of the day. The hammer sits on the 1.29 level at the moment, so this does suggest that we might go a little bit higher. We still think that the 1.3000 level is resistance, so we are not ready to get overly bullish, but do recognize that a move above the high for the session more than likely is a nice short-term trading opportunity to the upside. As for selling is concerned, we need to clear the 1.28 level in order to do so.
Written by FX Empire