The EUR/USD pair broke higher during the course of the day on Friday, but struggled at the 1.25 level yet again. With that being the case, the market looks as if it’s going to continue to sell off every time we rally. A resistant candle should be a nice selling opportunity as the market then goes down to the 1.2250 level given enough time. We believe that rallies represent value in the US dollar and that the marketplace will continue to look at it as such. It is not until we break above the 1.30 level that we would consider the trend changed, so there’s not much in the way of buying opportunities.
