The EUR/USD pair fell during the session on Thursday as the European Central Bank cut rates unexpectedly. The market actually plunged all the way down to the 1.33 handle, where got a significant bounce and we have formed a massive looking hammer. Quite frankly, there is no trade here simply because there is the nonfarm payroll numbers to be concerned about during the session today. Smart money will not be in the market during the session, and only fools will be playing this particular currency pair considering all the moving parts going on in the next 24 hours.
Written by FX Empire