The EUR/USD pair initially tried to rally during the course of the session on Tuesday, but found the 1.10 level to be a bit too resistive. With this, we ended up forming a shooting star we think that the market will probably break down towards the 1.08 handle. With the Nonfarm Payroll Numbers coming out later this week, this pair could search to drift towards the US dollars favor as people anticipate positive numbers. At the end of the day though, we feel that the market will continue to be choppy and consolidating over the course of the next few weeks.
