EUR/USD Forecast March 8, 2016, Technical Analysis

The EUR/USD pair initially fell during the day on Monday but found enough support below to turn things around and form a hammer. It now looks like we are trying to break above the 1.1050 level, and as a result if we can get above there we feel that the market could go much higher. After all, the weekly candle from the previous week was a hammer, and the top of it is at the 1.1050 level. So above there, we are buyers. We could pull back from here, but quite frankly at this point are not interested in selling.