The EUR/USD pair fell significantly during the course of the day on Wednesday, but turned back around and closed above the 1.10 handle. That being the case, if we can break above the top of the hammer we are buyers as it would show that the market has broken out recently, come back and retested the previous resistance, only to find support yet again. Ultimately, if we can break above the red line on the chart, we feel that the market could go as high as the 1.13 level above which had been so resistive previously.
