This is in a serious downtrend looking at any chart, and more importantly looking at the fundamentals.
The "bounce" on Thursday hit the wall, from real sellers from all over the world.
With the USD now commencing a long term multi year uptrend the EUR will continue to fall.
Some suspect they will want a swift depreciation.
The levels are there to look at on the charts.
The 1.30 big number but not real support, then the 1.27/28 ..and eventually the old 1.20 should be tested.
Given the miniscule bounce this week, I would think and longs hoping for the inevitable bounces should be pretty nifty, as it would be a high risk.
I would not go long EUR/USD.
