The EUR/USD pair fell during the session on Tuesday, but found the 1.35 level to be supportive enough in order to bounce and form a hammer. This hammer suggests to us that we are to stay within the consolidation area, and therefore we think that the short-term market probably moves higher. It really isn’t until we close well above the 1.3650 handle that we feel comfortable going long for any significant amount of time, so we look at this as a short-term trading opportunity to the upside as we continue to grind sideways after a fairly strong move higher.
Written by FX Empire