The EUR/USD pair rose during the session initially on Thursday, but ran into far too much resistance above to keep the gains. With that, we feel that this market pulling back and forming a shooting star is trying to tell us something that we are running out of steam. There is a certain amount of support out of the 1.3 a level as well, and as a result we feel that the market will probably be stuck somewhere near this area for the time being. We see a significant amount of support all the way down to the 1.37 level, and with that we think that it’s probably best to simply stay out of the market at the moment.
