The EUR/USD pair initially fell on Tuesday, but bounce informed the nice-looking hammer above the 1.3750 level. Because of this, we believe that this market is going to continue higher, but recognize the fact that the FMOC meeting for the next two days may put a little bit of a lid on this move. We need to close above the 1.3850 level in order to go along, but at that point in time we feel the market will head directly to the 1.40 handle. As far selling is concerned, we are not interested in we believe that the “floor” in the market is at the 1.36 handle.
Written by FX Empire