EUR/USD Technical Analysis for July 5, 2011

EUR/USD fell on Monday, but bounced from the 1.45 level to form a continuation hammer. This shows that the market is quite comfortable owning this pair at 1.45, and if that is true – higher prices are coming. The first target will be 1.47, and then 1.50 or so. As long as we are above 1.45, we are long-only of this pair.

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