The EUR/USD pair tried to rally during the course of the day on Wednesday, but ran into trouble at the 1.10 level yet again. With that, it looks like the market will sell off again, and a break below the lows from the Tuesday session has us selling and aiming for the 1.05 level. We believe that the market should continue to go lower than that given enough time, probably heading to parity. We believe that it is almost impossible to buy this market until we get above the 1.15 handle, which of course is going to take a Herculean effort.
