The EUR/USD pair broke out to the upside after printing a hammer the previous day for the Wednesday session. However, we still remain below the downtrend line, which of course is from the monthly timeframe. That obviously should be massive resistance, so were going to have to break out to the upside on a daily close in order to start buying. However, the good news is that if we do break out to the upside we could go as high as 1.50 given enough time. Alternately, if we turn around from here in for some type of resistant candle, we could start selling below the 1.37 level for a move that will be just as big.
