The EUR/USD pair went back and forth during the session on Monday, essentially going nowhere by the time the day was finished. The resulting candle is a neutral, but you could make a little bit of an argument for a hammer at this point. Obviously, this pair is bullish, so we don’t want to sell and we do think that there is a lot of support down at the 1.35 level. Going forward, we are willing to buy supportive candles as they appear but this one was an overly convincing, so we’re going to sit on the sidelines for the moment.
Written by FX Empire