The EUR/USD pair fell during the session on Wednesday, breaking below the 1.11 level. This suggests that the market is ready to go down to the longer-term target that we have been talking about, the 1.10 level. Because of this, we are sellers of rallies, and a break below the bottom of the range from the session on Wednesday. The European Central Bank should continue to add liquidity to the markets, and as a result we should continue to see weakness in the Euro. The US dollar should continue to be favored, and as a result we are sellers longer-term as well.
