The EUR/USD pair rallied slightly during the course of the day on Wednesday, but at this point in time the pair certainly looks very negative. With this being the case, we are looking for shorter-term resistive candles to continue to start selling. The market could then reach towards the 1.10 level below, where we would anticipate that a significant amount of support must be waiting. We don’t trust rallies until we break above the 1.1250 level, and on a daily close at that. We remain bearish, but recognize that there is going to be a lot of noise.
