With EUR/USD showing fresh weakness this morning, downside targets are coming back into focus. The immediate downside target is 1.3880, the mid-September low. Support extends to the 1.3850 level, below which we’re looking at at 1.36-handle. The”old” all-time highs (2004) at 1.3665 along with the summer 2007 high at 1.3680 (broke the old high but flamed-out quick) is the line in the sand for me. Below that level, confidence in the euro will quickly evaporate. What began as a correction could quickly turn into a crisis. As noted in the “three little rules”above, when techs and fundamentals come together, the moves can be extremely rewarding.