The EUR/USD pair initially took off to the upside during the day on Thursday, but turned right back around below the 1.1350 level to form a shooting star. The shooting star is of course a very negative sign, and as a result it makes quite a bit of sense that we could turn right back around and start dropping below the 1.12 level below. I believe that this market will continue to punish the Euro going forward now, as the European Central Bank has suggested that the ultra-loose monetary policy will continue going forward, and as a result we should continue to see quite a bit of negativity in general.
