The EUR/USD pair fell during most of Thursday, but as you can see bounced perfectly of the 1.30 level in order to form a hammer for the session. This of course shows that the 1.30 level is rather supportive, and that we should continue to see bullishness going forward. Quite frankly this was a nice little pullback and if you were quick enough you found the perfect entry to go long for the next couple hundred pips. As far as selling this market is concerned, although we do not like the Euro long-term, we need to see a daily close below the 1.30 level in order to do so now.
Written by FX Empire