The EUR/USD pair went back and forth during the course of the day on Thursday, forming a fairly neutral candle. There is a significant amount of noise above, and as a result it’s very difficult for us to imagine buying this pair. On the other hand though, if we get a rally that forms a rather resistive candle above, we would not hesitate at all to start selling. We believe that ultimately this market is reaching down towards the 1.05 handle, but it will take some time to get down to that area.
