EUR/USD Is Headed For The Previous Low

Everyone was waiting for the US Change in Non-farm Payrolls today and the results did not disappoint. EUR/USD fell over 120 pips and broke below 1.0800, forming a new low at 1.0705. Under these circumstances I think that in the foreseeable future we can expect the pair to continue falling towards the previous lows at 1.0520 and 1.0462. If it succeeds in breaking below the latter the continuation of the bearish trend will be confirmed and we may have to prepare ourselves for the inevitable move to downside until it eventually reaches parity.