The EUR/USD pair has fallen significantly during the trading session on Thursday, but as the Americans came back we bounced above the 1.17 level again. I think the given enough time, the buyers will probably return because of the hammers that have formed on the daily chart in this vicinity. Because of this, given enough time I expect to see the market try to break towards the 1.18 level. With this in mind, I like buying dips if we can stay above the 1.1675 level. Ultimately, I believe that the 1.18 level will cause issues as well, as we have significant amounts of volatility in a market that quite frankly seems a bit skittish to say the least.
Written by FX Empire