EUR/USD forecast for the week of February 27, 2017, Technical Analysis
The EUR/USD pair fell during the week, but found the 1.05 level to be supportive enough to turn things around and form a hammer. The hammer of course is a very bullish sign and I believe that we could bounce from here because of the hammer that we had formed
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The EUR/USD pair fell during the week, but found the 1.05 level to be supportive enough to turn things around and form a hammer. The hammer of course is a very bullish sign and I believe that we could bounce from here because of the hammer that we had formed during the previous week. However, the short-term chart looks very negative, so I think the take away from here is that is going to be very choppy but probably struggle to break down below the 1.05 level anytime soon.
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