The EUR/USD pair rose during the session on Friday, breaking above the 1.08 level. However, we see a significant amount resistance all the way to the 1.10 handle, so we are not too enthused about going long at this point. We believe that a resistant candle towards that area will be an excellent selling opportunity as it should just simply continue the consolidation that we have seen over the last several weeks. Ultimately, we believe that the Euro will continue to have issues overall, and therefore we do not like buying anyway.
