The EUR/USD pair fell during the day on Thursday, testing the 1.08 level. That level is the bottom of the recent consolidation area, so we can break down below there we feel that the EUR/USD pair should reach towards the 1.05 handle. On the other hand, we find a supportive candle in this area we could be buyers as the market could very well bounce back towards the 1.10 level again, and then perhaps even the 1.11 handle. At this point in time, we believe that waiting for a daily close before placing the next trade is the best way to go.
