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I love it when a plan comes together! The trendline that I've been posting about and following since the end of June when bullish momentum took charge over the EUR/USD pair, was finally broken today as a result of both profit taking ahead of the U.S. FOMC meeting and and abysmal Q2 Non-Farm Productivity figures (biggest decline since Q3 2008). As a result of that trendline break we saw strong selling pressure that was met with slight support around the 200 MA and weekly S1. The retracement went right up to my red MA (which provides support/resistance in strong trending markets) as well as the 50 fib level. God I love fib levels more and more. Once the retracement was laid to rest we've seen price action drop even farther as low as 1.3072 as of this writing. I provided a picture of my chart to show the technicals mentioned above. Hope everyone finds it useful. Feel free to leave me any questions or comments.