EUR/USD rose during the early part of the Thursday session until the PM of Germany was quoted as saying that the Eurobond idea was dead. The idea of having Germany and the core of the EU backstopping all debt was a dream of the markets, and as a result the Euro then sold off. The daily candle looks like a shooting star at the bottom of the fall, and as a result shows more possible selling to come. A break of the bottom of the Thursday session triggers more selling, and will more than likely have the market testing the 1.31 level again. We are selling rallies and a break of the low form Thursday.