The EUR/USD pair fell initially during the course of the session on Thursday, but found enough support below the 1.12 level to turn things back around and form a bit of a hammer. There is an uptrend line just below, and of course the 1.10 level that we have been talking about here at FX Empire as being supportive. With that being the case, we believe that the market will bounce fairly soon, but at this point in time we simply don’t have the momentum. We don’t necessarily think that we are going to break out to the upside for any significant move, as the 1.14 level above continues to be resistive.
