The EUR/USD pair fell initially during the session on Monday, but as you can see bounced enough to form a hammer. The Friday candle of course was a shooting star, and as a result we have seen a bit of a stalemate over the last 48 hours. However, if we managed to break the top of the shooting star from the Friday session, we think this market starts heading towards the 1.40 level. With the nonfarm payroll numbers coming out today, we feel that this market will continue to go higher based upon weak job numbers.
Written by FX Empire