The EUR/USD pair went back and forth during the course of the session on Friday, testing the 1.1150 level. This is a market that seems to be respecting the massive supportive level in this region. I think that longer-term over the last several months we are looking at a descending triangle that should continue to give us a negative market. If we can break down below the bottom of the range for the session on Friday, I feel at that point in time the market should then send this market looking for the 1.10 level below.
