Technical Outlook and Chart Setup:
As depicted above, the single currency pair has just bonced off its projected down targets at 94.10 levels. It has produced a Hammer yesterday which warns us of a potential reversal here. We recommend bears to book profits and take money off the table from short postions built last week. There maybe a potential reversal setting up underway.
Trading Recommendations:
1. Book profits from the short positions taken yesterday.
2. Aggressive buy strategy can be implemented with stop below yesterday's lows.
Good Luck!
