The EUR/USD pair fell during the session on Monday, but as you can see bounced enough to form a hammer at roughly 1.31 for the session. Because of the shape of this hammer, we believe that a bounce is more than likely going to come. After all, this market has fallen straight down over the last several sessions, in the US Dollar Index shows a shooting star, which tends the move completely inverse of this pair. We think this is a short-term buying opportunity, and as a result will treat it as such. As far as selling is concerned, we aren’t interested at the moment.
Written by FX Empire