The EUR/USD pair fell during the balance of the Friday session as the US jobs number came out much stronger than anticipated. However, once the Europeans went home for the weekend, the Americans pushed this pair back up as a typically will do with good news.
The 1.29 level seems to be very supportive, and as a result we had this hammer form. Because of the shape of the candle, it looks like we are going to get a bit of a bounce from this area, and as a result we will more than likely see higher prices going forward. On a break of the highs from the Friday session, we would be willing to buy this pair and aim for the 1.31 handle again.
Written by FX Empire