The EURUSD pair fell during the Thursday session, testing the 1.05 level for support.

It did find a little bit there, so it’s likely that the market will bounce, but I would suggest that the bounces are getting smaller and smaller as time goes on.

Eventually, the market will probably break down below the 1.050, sending the value down to 1.0350. Rallies continue to be sold as far as I can see, and thus I have no interest in trying to buying this pair.

The US dollar continues to be one of the strongest currencies.

Editor’s Note: Equity investors/traders can use the Currency Shares Euro Trust (FXE, quote) ETF to take positions in the euro without a FOREX account.  The ETF looks to track the price of the euro (EURUSD), minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.

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