EUR/USD Forecast June 1, 2015, Technical Analysis

The EUR/USD pair initially fell during the course of the session on Friday, and then slammed into the 1.10 level. With that, we feel that the market is trying to break out, and the fact that we formed a hammer on the weekly chart, tells us that we could very easily break out to the upside. With that being the case, we are bullish of the euro above the 1.10 level, and believe that selling isn’t necessarily a smart move at this point in time. Ultimately, we believe that this market should then head to the 1.12 level.