By FXEmpire.com
The EUR/USD pair fell through the 1.25 level during the week as the headlines continue to be poor out of Europe. The Friday session saw a very poor Non-Farm Payroll number out of America, and this has a lot of traders thinking that the Fed will ease further. However, the 1.25 level hasn’t been retested yet, but the substantive action is thin at the moment, and most of this is simply speculation.
A break above the 1.25 level could be a move to the 1.30 level waiting to happen. However, the 1.30 level should be massively resistive. The breaking of the bottom of the hammer for the week would be a horrible sign and have us selling aggressively.
Click here a current EUR/USD Chart.
Originally posted here
