The EUR/USD pair fell during the course of the session on Friday, but found support near the 1.13 level to turn things back around and form a hammer. The hammer of course suggests buying, but we do have a significant amount of resistance above and extending all the way to the 1.15 handle. With that, we think that is going to be difficult to trade this market but if we had to pick a position it would most certainly be to the upside. Once we get above the 1.15 level, we are more than willing to hang onto a longer-term buy position.
