EUR-USD: Our call for a recapture of the 1.3055 level, its Dec. 23, 2010 low, continues to play out, as the EUR declined sharply on Thursday. On further weakness, the pair should target the 1.2967 level, its November 2010 low. Below that level will call for more downside toward the 1.2713 level and subsequently the 1.2600 level. Its daily RSI is supportive of this view. Conversely, EUR will have to climb back above the 1.3494 level to annul its present weakness and target the 1.3785 level with a loss of there exposing the 1.4281 level traded in early November 2010. All in all, with the EUR turning lower ahead of the 1.3494 level and continuing down, risk of further declines is likely.