The EUR/USD pair initially fell on Tuesday, but as you can see turned back around to form a hammer. That hammer of course suggests that we are going to continue to go back and forth, as there was a shooting star for Monday. Ultimately though, we believe that this market is heading back to the 1.11 level, so rallies will be selling opportunities. Break down below the bottom of the hammer from the Tuesday session is also a selling opportunity, as the market should then head to the 1.10 level given enough time.
