The EUR/USD pair fell initially during the session on Thursday, bouncing later in order to form a hammer. This hammer suggests that we are going to try to make a move above the 1.27 level, and perhaps against the 1.28 handle. The 1.28 handle in our opinion is much more resistive, and as a result we are looking for resistive candles in that area start shorting yet again. We have no interest in buying this market until we break above the 1.30 handle, something that isn’t going to happen anytime soon. Because of that, we will continue to sell rallies.
