The EUR/USD pair fell during the session on Wednesday, but as you can see bounced enough to form a hammer. This hammer suggests that the market is going to stay noisy after forming a shooting star on Tuesday, and as a result it’s almost impossible to place any real faith in this market at the moment, and because of that we are on the sidelines. We believe that the 1.3650 level continues to offer support, while the 1.38 level continues to offer resistance. With nonfarm payroll coming on this Friday, it’s hard to believe that this market to make any significant moves.
