The EUR/USD pair had another slightly bearish session on Wednesday as the markets prepare for the European Union’s summit over the next 48 hours. The market is currently thinking that this will be yet another disappointment, and in some ways you could make the argument that the real risk for a shock would be to the upside. However, with the problems in Europe being so complex, there is a real chance that we continue the slide lower afterwards. Adding to this is the fact that the rumor mills will end up being very active during the meetings, so this pair could be very difficult over the next two days. However, looking at the charts, we are selling a break of the 1.24 level. As for buying – we aren’t.