The EUR/USD pair went back and forth during the course of the session on Friday, essentially showing a lack of momentum. The 1.06 level in this area of course is attracting price, but it’s only a matter of time in our opinion before we fall down to the 1.05 handle. This is especially true considering that the weekly candle stick is a shooting star. Any rally at this point in time should invite selling on signs of exhaustion, as the Euro continues to struggle against just about everything at the moment and simultaneously we have the US dollar being one of the strongest currencies in the world.
