The EUR/USD pair went back and forth during the course of the session on Thursday, forming a fairly choppy and neutral candle. This tells me just how difficult this pair is at the moment, and as a result I think we are going to continue to see downward pressure overall, but it’s not going to be a straight line down to the 1.1150 level, which I think is where we are heading. I also recognize that the downtrend line on the chart suggests that the dollar pressure continues, so it’s not until we break above there that I think that the market could go higher. Ultimately, this is a market that I feel is very difficult to deal with, and perhaps probably best left alone.
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