The EUR USD pair pullback during the session on Tuesday, but found enough support below in order to bounce and army hammer.

This hammer completely contradicts the shooting star from the Friday session, and appears like a market that wants to break above the trend line that is just above current price.

As you been reading are analysis, you have been told that this trend line could be very significant, so we feel that this market will more than likely try to break out sooner or later, but may have a little bit of sideways work to do first.

Content curiosity of FOREXCycle

Editor’s Note: Equity investors/traders can use the Currency Shares Euro Trust (FXE, quote) ETF to take positions in the euro without a FOREX account.  The ETF looks to track the price of the euro, minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.