The EUR/USD pair fell for much of the session on Monday, but managed to find support at the 1.25 level. This caused the pair to print a hammer for the session, and this suggests that we are going to see some kind of struggle at this level. This shouldn’t be a surprise considering the fact that the level is a “large round number”, and as a result we think it is worth watching. However, there is a summit of EU leaders on Thursday and Friday, so this market might simply be an area of consolidation until we get some kind of answer from the meeting. On the other hand, if we break the bottom of the candle for the Monday session – we are ready to sell right away.
Written by FX Empire