The EUR/USD pair tried to rally at the open on Thursday but turned around to continue even lower. I believe that the EUR/USD pair will continue to grind all the way down to the 1.05 level, which is a longer-term support barrier that has kept the Euro higher over the last several years. With this, I think that we very well could break down, but we may have to bounce from time to time in order to continue lower and finally break down below the massive support barrier and head towards the parity level underneath.
