So, after Friday’s awesome rally, one could think today will be a day of retracements, but I think else. Given that the war in Georgia is sending dark clouds over the air of EURO zone I expect the rallies of E/U to be very short lived, and also the fact that investors have to digest the -400pips drops in the same pair in only 24 hours tells me that we’ll see more selling action in the near future. The 1.5 magical support line got broken this weekend, and we closed the gap today in the asian session, so I assume the downtrend will continue from here.

Will post charts later, welcome to my forex blog, I hope you’ll have great trades this week!