The EUR/USD pair initially fell during the course of the day on Monday, but found enough support at the lows again to bounce. Ultimately, looks like we could bounce a little further but I’m waiting to see whether or not we get an exhaustive candle above that I can start selling. Alternately, and exhaustive candle somewhere closer to the 1.10 level should offer perceived “value” in the US dollar going forward. I have no interest whatsoever in buying the Euro at the moment, as I believe we are eventually going to reach down to the 1.05 level below.
