The EUR/USD pair fell during the session on Monday, as the 1.25 level has offered significant resistance, as the market continues to struggle. We believe that this market should then go to the 1.2050 handle, which is the longer-term target. That’s initially where the buyers stepped into this marketplace, and we believe that the market will want to go back down to that area given enough time. Rallies are selling opportunities, and we have absolutely no interest whatsoever in buying the Euro as we believe the European Central Bank will continue to have to loosen monetary policy.
