EUR/USD Technical Analysis(2016.02.29)

EUR/USD Technical Analysis(2016.02.29)

The EUR/USD pair fell rather significantly during the course of the session on Friday, breaking below the bottom of a couple of hammers. With this, the market should then reach down to the 1.08 level given enough time. The candle was very long, so having said that it’s likely that we will continue to see bearish pressure. With that, we are sellers on a break below the bottom of the range, and of course short-term rallies that show signs of exhaustion at this point in time. We don’t really have any interest in buying this market until we break well above the 1.1050 level.

EUR/USD Chart

Source: FXEMPIRE