The EUR/USD pair rose during the session on Friday, slamming into the 1.38 level. This area has served as significant resistance lately, and as a result it isn’t much of a surprise that the market stopped. However, the candle is very bullish looking, so now we are starting to pay close attention this pair because just above that area is a significant downtrend line as well. A monthly channel could be broken if we get above the 1.39 level, and if that’s the case this market should explode to the upside. Pullbacks could also offer buying opportunities. For now though, we are watching the 1.39 handle.
