Euro dollar bearishness is not over but there is a possibility that this pair retraces up before it continues on its descent. Looking at the chart below, we can see that 1.30 is a possible target on the upside and is a possibility as long as 1.29 holds.

eurusd 8hrIf 1.29 breaks, we might see the pair continue on its way down to 1.280.

~ Ardy