The EUR/USD pair initially fell on Thursday, but found support in the same area that we have seen several times. With this, the market looks as if the buyers are in control, but the truth of the matter is that the 1.13 level is going to be a bit difficult to get above. If we do though, the market should then head to the 1.15 handle eventually. Pullbacks should offer buying opportunities as long as we can stay above the 1.11 level, so this point in time we are essentially “long only”, but recognize that short-term trades are about the only ones that we could have in such a volatile market.
