The EUR/USD pair broke higher during the course of the day on Wednesday, testing the 1.10 level after the Federal Reserve suggested that perhaps the interest rates in the United States will remain low for a longer amount of time than originally anticipated. Because of this, we believe that the market will test the 1.10 level again, but you cannot discount the fact that there are major issues in the European Union right now. With that, we are a bit hesitant to get involved until we get a clearer signal one way or the other. At this point time, it’s probably better to stay on the sidelines.
