The EUR/USD pair broke down during the course of the day on Friday, did bounce a little bit just above the 1.32 level. We believe that this market continues to sell off, but you should use short-term charts in order to find of selling opportunities. 1.33 should continue to be resistive, and we believe that this pair continues down to the 1.30 handle. With that, we are “sell only” at this point in time, and as a result see no opportunities to buy this market anytime soon. In fact, we would have to break above the 1.34 level to even consider it at this point.
