The EUR/USD pair broke higher during the course of the day on Monday, but did not break the top of the hammer from Friday. We are essentially trying to build up enough of a bullish move to head back to the 1.18 level, where we would anticipate seeing a bit of resistance. A resistant candle in that general vicinity should end up being a nice selling opportunity. If we did break above the 1.20 level however, we would consider this a very bullish market. In the meantime, we are simply looking for resistance in order to start selling yet again.
