EUR/USD Forecast February 11, 2016, Technical Analysis

The EUR/USD pair fell significantly during the course of the day on Wednesday but found enough support during the testimony by Janet Yellen in front of Congress. By turning back around, we ended up forming a massive hammer which looks as if it is ready to take off to the upside. We believe that this market will continue to go higher, perhaps reaching as high as 1.15 in the fairly near term. We believe that pullbacks are buying opportunities and have absolutely no interest whatsoever in selling this pair at the moment.