The EUR/USD pair initially fell during the course of the day on Wednesday, but found enough support below the 1.0750 level to turn things back around and form a hammer. This is the second hammer in a row, so we think that there is probably a bounce coming. However, this bounce should be a nice selling opportunity eventually, so we are waiting to see how this plays out. However, if we break down below the bottom of both hammers, we would start aggressively selling this pair and aiming for the 1.05 handle.
