In our recent commentaries, we have talked about looking to sell the euro/dollar currency pair (EUR/USD) on any temporary strength, because the dominant momentum is bearish.

As we can see in the charts below, the EUR/USD broke lower Wednesday after a brief retracement higher earlier in the week. Sellers are very much in control of this pair right now, and we see the potential for it to move even lower, perhaps to parity in the coming weeks.

We remain committed to the same view we have had for weeks now about the EUR/USD: Traders should look to sell on strength in order to get on board with this downward-moving pair.

Daily Chart

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Weekly Chart

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This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.