EUR/USD Forecast February 16, 2017, Technical Analysis

The EUR/USD pair fell initially during the day on Wednesday, but found enough support of the 1.05 level to bounce and form a hammer. This of course is a bullish sign and I think that the market may try to rally from here be given enough time I believe that the sellers will return. Because of this, I believe that it’s going to be difficult to start buying, so given this, I’m simply waiting for an exhaustive candle to get involved with, or breakdown below the 1.05 level to start shorting. I have no interest in buying.