The EUR/USD pair initially fell during the session on Thursday, but then shot straight up. However, we are approaching the 100 day exponential moving average, and we recognize that there is a significant amount resistance all the way to the 1.10 handle. With that being the case, the market looks as if a resistive candle will appear that we can search selling again fairly soon, as the Euro continues to struggle over the longer term anyway. With this, we are sellers only and have no interest whatsoever in buying even though this market looks bullish of the moment.
