The EUR/USD pair fell during the session on Friday, as we continue to drive down towards the 1.05 handle. That is an area that should be supportive overall, but we do believe that eventually this market will break down below there. Ultimately, we feel that it’s easier to sell this market on rallies than anything else. Rallies and show signs of resistance will be excellent selling opportunities. The yellow box on the chart makes for massive resistance, and as a result we have no interest whatsoever in buying the Euro as there are far too many issues.
