The EUR/USD pair tried to rally during the course of the day on Monday, but as you can see failed near the 1.27 level. This area ended up pushing market back down and forming a shooting star, which of course means that the market should go much lower. With that, we believe that the EUR/USD pair continues to drop, heading towards the 1.25 level given enough time. We have no interest in buying, at least until we get above the 1.30 level, something that does not look very likely at this point.
