The EURUSD pair initially fell during the course of the session on Wednesday, but turn right back around and form a hammer.

The hammer of course is a bullish sign and we could very well could reach towards the top of the candle from the previous session, as we would test to find resistance yet again.

Ultimately, this is a very volatile market but I still believe longer-term the Euro will continue to fall against the US dollar.

After all, there are a lot of concerns as to what’s going to happen in the European Union in the future.

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 (EURUSD), 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.

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