By FXEmpire.com
The EUR/USD pair fell for much of the week only to turn around and pop back up and form a hammer. The hammer is sitting on the 1.3250 support mark, and as a result we think the next move is up. However, there is a massive resistance area at 1.35, and we feel that longer-term traders will have to be concerned about that level for the short-term. In truth, the 1.35 level is the real fight, and it will be a battle there to say the least. Any longs will have to be protected at that point. The breaking of the top of this past week’s candle could serve as a place to buy. If we break the bottom of the candle – this pair could be a big sell.
EUR/USD Forecast for the Week of April 2, 2012, Technical Analysis
Originally posted here
