Current State: Price has been rangebound since the channel breakout between .7050 and .7325. While we have no trade open, we have theorized the possibility a base is forming, and higher prices are the next move.
Future Forecast: With higher prices in mind can we consider yesterday's extreme price movement a "Hammer"? In my opinion - No. The fact price recovered is , but without some behind price, all patterns mean nothing. The "flash crash" witnessed here doesn't represent enough value to factor into a pattern. I'm still looking for price to finish above .7050 before continuing to see the possibility of a move next.