The EUR/USD pair tried to rally during the course of the session on Wednesday, but found enough resistance above the 1.08 level to turn things back around and form a shooting star. Because of this, it looks as if the EUR/USD pair will continue to be soft, and that rallies will continue to be sold off. It’s probably only a matter of time before we head down to the 1.06 handle, so we remain very bearish. We think that area will be rather supportive though, and it may take several attempts to finally break down below it. We have no plans on buying.
