The EUR/USD pair fell during the session on Thursday, but as you can see found enough support at the 1.3250 level in order to bounce and form a hammer. This just solidifies our opinion that this market is going to go higher, and as a result we should see the 1.34 handle relatively soon. On the other hand, if we broke the bottom of the hammer that would in fact be a very bearish sign, which of course would have sellers stepping into the marketplace and over fist. In the meantime though, expect a lot of volatility.
Written by FX Empire