EUR/USD Forecast February 28, 2014, Technical Analysis

The EUR/USD pair initially fell during the session on Thursday, but found enough support below the 1.3650 level to form a decent looking hammer. However, there is so much noise above that we feel that this market will continue to chop around and will struggle to get above the 1.38 handle. With that, we have no real interest in trading this pair, as it simply is a very short-term type of market. In those type of markets, it’s very easy to lose money, something which we have absolutely no interest in doing.