The EUR/USD pair initially fell during the course of the session on Friday, but then bounced above the 1.25 level by the time we close. This of course is a very positive looking candle, and as a result the market should continue to go higher for the short-term. Ultimately though we think there is plenty of resistance above and it’s likely that this market will break down. We have no interest in buying the Euro, and believe that the US dollar will continue to be the favored currency by Forex traders around the world.
