The EUR/USD pair fell rather significantly during the course of the day on Friday, as we continue to continue to drop down towards the 1.08 level. We have now broken down significantly during the course of the day, and it looks as if the Euro will continue to fall from here. Short-term rallies should offer selling opportunities at the first signs of exhaustion. A break down below the bottom of the candle of course would be negative as well. At this point, the 1.1050 level above continues to be the “ceiling” in this market.