EUR/USD Forecast March 2, 2017, Technical Analysis

The EUR/USD pair initially fell on Wednesday but found support at the 1.05 level yet again. By doing so, we bounced and formed a hammer but we have several shooting stars in front of this and it tells me that even though the 1.05 level as being rather stubborn, you would be foolish not to believe that the sellers won’t be waiting to get short of this market just above. I believe because of this looking for short-term exhaustive candle’s will be the way to go today, and I will not hesitate to sell, especially if it’s near the red 50-day exponential moving average on my chart.

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