The EUR/USD pair as you can see initially tried to rally during the course of the day on Wednesday, but as you can see turned back around in order to form a shooting star. Ultimately, this means that the market should continue to fall, and we believe that the market should then go down to the 1.2050 level, which was the beginning of the longer-term uptrend that we have officially smashed through now. With that, we are bearish and we are selling rallies every time they appear. Also, if we break down below the bottom of the range for Wednesday we are sellers as well.
