The EUR/USD pair fell hard during the session on Friday, as the nonfarm payroll number came out much stronger than anticipated. Because of this, we made a fresh low, as the market close to just below the 1.23 handle. With that, we feel that the market should continue to go lower and head to the 1.2050 level given enough time. We believe that rallies will continue to be selling opportunities going forward as the market is most certainly negative, and as a result we believe that this trend should continue overall as the Euro continues to struggle.
