The Euro fell rather sharply during the course of the day on Friday, slamming into the 1.1150 level. However, this is an area that is very important in general so I would not be surprise at all if we turn things back around and start bouncing. On the other hand, if we break down below the level significantly, I don’t see any reason why this market does reach down to the 1.10 level. I am bearish overall, so I think any rally should be a selling opportunity on signs of exhaustion above.
