For the last three trading sessions, the EUR/USD has failed to rally and stay above 1.58 for any amount of time before sliding to find support levels. I’ve been able to make over the last few days $200.00 when it has by selling after it has reached above 1.58.

On Thursday, the European Central Bank’s President Jean-Claude Trichet is anticipated to raise interest rates 25 points. This move is expected to strengthen the euro and move to the 1.60 level.