The EUR/USD pair broke down below the bottom of a couple of hammers during the Friday session, so therefore if you we are getting ready to go even lower. I think that the 1.09 level will be targeted first, and then eventually we will try to work our way all the way down to the 1.05 level over the longer term. Short-term rallies offer selling opportunities, as the European Union continues to see money flow across the Atlantic Ocean into the United States. With all the uncertainty in the EU, I don’t see any reason why this trend changes but I do not expect some type of meltdown.
