The EUR/USD pair initially tried to break higher during the course of the session on Thursday, but turned back around as the Euro continues to suffer overall. We believe that this market will continue to drift lower, but the easy money has probably already been made. With that, we are sellers of short-term rallies, but do not expect any type of meltdown. The 1.10 level below is the target as far as we can see, and as a result we feel that selling rallies will continue to be the way going forward. We have no interest in buying as the 1.15 level should be massively resistive.
