The EUR/USD pair broke down below the 1.1050 level, but could not break down below the 1.10 handle. That level is will we need to see in order to start selling, so if we can get below the bottom of the daily range, we are more than willing to short this market but recognize that there is quite a bit of noise below. We believe that the market will probably try to reach the 1.08 handle at that point in time. On entering, if we can break back above the 1.1050 level, we could be interested in buying.
