The EUR/USD pair broke down during the session on Thursday, signaling a lower. With that being the case, it appears that the market should continue to drift lower, aiming for the 1.2050 level which is our longer-term target. Rallies at this point in time should be selling opportunities as is market should continue to have more and more downward pressure on it. We ultimately believe that this market cannot be bought, and should continue to offer selling opportunities time and time again. We believe that both short and long-term players are involved to the downside at this point.
