The EUR/USD pair initially gapped lower at the open on Monday, mainly as a knee-jerk reaction to the Parisian terror attacks in our opinion. However, we feel that gap and then ended up forming a relatively negative candle. At this point time, if we can break down below the recent low, this market should then head to the 1.06 handle, and then the 1.05 handle. We think rallies will be selling opportunities as well, as breaking below the bottom of the uptrend line recently of course was a very negative sign in this market.
