The EUR/USD pair initially fell during the course of the session on Friday, but found the 1.36 level supportive enough to bounce slightly. However, this market does look like it’s ready to break down and as a result we feel that a break below the bottom of the range for the session on Friday should send this market looking for the 1.35 level where will find significant support. Going forward, we fully anticipate that support to cause a bounce which could probably be sold again. Rallies should offer selling opportunities between here and there, and as a result we are very bearish.
