EUR/USD rallied initially on Friday, but failed to get above the 1.28 level which should now be resistance. Because of that break down, we believe that this pair goes much lower, perhaps as low as 1.24 before it’s all said and done. However, we have held steady at the 1.27 level, and it does appear that there is a little bit of support at this area. Because of this, we will wait until we break below the lows from the Friday session in order to start selling. As for buying this pair, we would have to break above the shooting star from Wednesday as it would show a significant switch in momentum.
