The EURUSD pair fell significantly during the day on Monday as we got word that the FBI was not going to indict Hillary Clinton due to emails.

With this, looks as if we are going to continue the longer-term downtrend, and as a result we could reach towards the 1.10 level next, and then you been lower to the 1.08 level underneath.

Any rally going forward should be a nice selling opportunity, and I will choose to sell on signs of exhaustion after we get those short-term rallies. At this point, I believe that the Euro continues to sell off in general.

Editor’s Note: Equity investors/traders can use the Currency Shares Euro Trust (FXE, quote) ETF to take positions in the euro without a FOREX account.  The ETF looks to track the price of the euro (EURUSD), minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.

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