EUR/USD fell apart this past week, and more specifically on Friday as there are many rumors as to whether or not the Greeks were preparing to default on their debts or not. Adding to the confusion, one of the members of the European Central Bank committee resigned as differences are boiling over in the central bank. We are ready to sell any and all rallies as the 1.40 level, the 1.3850 recent low, and several pieces of bad news such as a failed Greek bond auction on Friday have all culminated into very, very bad news for the common currency.
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