The EUR/USD pair fell during a majority of the session on Tuesday, but as you can see found enough support below in order to form a hammer. This market continues to find buyers every time it dips, but in reality we think this market isn’t going to go anywhere quite yet. The market will more than likely be driven by the Federal Reserve and whether or not it chooses taper off of quantitative easing during the month of September, so we think that sideways action will continue at this moment. Because of this, we are on the sidelines.
Written by FX Empire