The EUR/USD pair initially fell during the session on Friday, but as you can see rocketed higher in order to go above the 1.37 level. The resulting candle is a hammer, and it suggests that the market is going to go higher overall. The 1.38 level should be resistive. Though, so we think that this market will more than likely go to that point and possibly pullback. Ultimately though, we think this market should go to the 1.40 level once the move is all said and done. Pullbacks should be nice buying opportunities.
Written by FX Empire