Posted On December 11, 2017
The EUR/USD pair fell initially during the session on Friday, showing signs of weakness as the jobs number came out a bit better than anticipated. However, by the end of the day when it up forming a hammer which is a bullish sign. I think the 1.17 level underneath is massively supportive, so break above the top of the hammer should send this market looking to fill the gap above, which means we will be targeting the 1.19 handle. Longer-term, I look at the weekly charts and see a bullish flag, so I’m a buyer of dips and have no interest in shorting anytime soon. There will be dips occasionally, but those should be buying opportunities for the longer-term. If we break down below the 1.15 handle, that would change things, but likely won’t happen anytime soon.
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