The EURUSD lost significant ground last Friday as the downtrend continued following the stronger-than-expect U.S. employment number. The employment number is really irrelevant, because we’ve been talking about this downtrend for months now as the price action has reflected it, and our bearish bias hasn’t changed. We expect this market to continue to weaken in the coming days and weeks and could see price move down to the early 1.2000’s before staging a meaningful rally. Traders can continue looking for selling opportunities on any strength in this market.