The Euro has gone back and forth during the course of the week to form a massive neutral candlestick, after the hammer from the previous week. At this point in time, the market looks as if it is trying to form some type of basing pattern, but the Euro itself seems to be very soft. At the 1.15 level, the market is likely to continue to be important, because if we can break above there it is likely that the Euro will try to go higher. Any signs of exhaustion on a rally would be a selling opportunity from what I can see. Furthermore, if we were to break down below the hammer from the previous week, then the market is likely to go much lower.
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