The EUR/USD pair went back and forth during the course of the session on Thursday, but most importantly tested the 1.10 level for support. We ended up finding support there, and turning back around. Ultimately though, with the nonfarm payroll numbers coming out today, we could see a move below the 1.10 handle, and a daily close below there is massively bearish. At that point I would anticipate seeing this market go down to the parity level. On the other hand, if we go higher from here, we believe that simply waiting for resistive candles as the best way to play this market as we could then start selling again.
