The EUR/USD pair initially fell during the course of the day on Wednesday but found enough support near the 1.0550 level to turn things back around for a fairly bullish looking candle. At the end of the day though, it’s a bit foolish to trust the Euro with any significant amount of money. Because of this, we are simply waiting on the sidelines for the sellers to come back into the marketplace and we of course will join them. We see the 1.10 level above as a massive ceiling, and do not anticipate this market being a break above there.
