EUR/USD fell this past week, and even broke down below the bottom of the very supportive hammer from two weeks ago. Because of this, we think the next overall move is to the downside. The 1.40 area should be massively resistive, and as long as we don’t close above that area on a daily chart, we are selling rallies. The 1.35 area should be support, and that will be the next major hurdle for the bears to clear in our minds.
