The EUR/USD pair fell during the course of the day on Friday, breaking the bottom of the hammer from the Thursday session. This of course is a very negative sign and therefore we feel that the market should continue to go much lower. From what we see, the 1.25 level is probably the next target, binds longer-term charts suggests that we could go even lower than they are. Any bounce at this point time has to be treated with suspicion, and sold at the first signs of resistance as the market certainly has made up its mind.
