The EUR/USD pair fell initially during the session on Wednesday, but found the 1.3300 level supportive enough to keep the market afloat. In the end, we did bounce and got as high as the 1.3350 or so, it ended up forming a hammer before with all said and done. This hammer suggests that the 1.33 handle is in fact going to be supportive now, and as a result we are going to gain go higher and trying to break above the downtrend line that you see on the chart based upon the weekly time frame.
Written by FX Empire