The EUR/USD pair fell during the session on Monday, but as you can see the 1.30 level offered enough support to make the market bounce and form a hammer. This hammer looks very supportive, just as the two previous days did, and as a result we still think that this market is about to start going higher. On a break of the highs from the Monday session, we would be willing to go ahead and take a chance on a long position. However, if we managed to close below the bottom of the Monday candle, this would be an extraordinarily bearish sign.
Written by FX Empire