By FXEmpire.com
This pair had a massively bearish day on Monday as the 0.81 level completely let go as support. The very bottom of the recent hammers was being tested at the end of the Monday session, and as a result we think that it eventually gives way. The breaking of the lows for the Monday session will have us selling again, as the trend is most certainly down. The bailout of Spanish banks over the weekend originally got people looking to take risk, but this gave way and the Euro fell overall. This suggests to us that the downtrend is about to continue, and as a result we are looking to sell again.
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Originally posted here
