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Euro dollar was down sharply following the dramatic election results in France and Greece yesterday. The Euro fell below the 1.30 level, hitting a three-month low, as voters in France showed President Sarkozy the door, and voted in Socialist leader Francois Hollande. In Greece, voters vent their anger by throwing out the ruling government, but there was no clear winner. The elections will likely set the tone for EUR/USD movement this week. Although there are no key releases today in Europe or the US, Monday promises be anything but dull, as the markets begin to digest the election results. The euro’s drop overnight below the 1.30 level could be the harbinger of more volatility for the European currency.

Here’s an update on technicals, fundamentals and what’s going on in the markets.

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-may-7-euro-slides-after-dramatic-election-results-in-france-and-greece/"]EUR/USD Slides After Dramatic Election Results in France and Greece[/URL][/I][/B]