The EUR/USD cratered yesterday as Ben Bernanke appeared more optimistic on the U.S. economy, while the ECB simultaneously increased its balance sheet through another LTRO (see my colleague Boris Schlossberg's summary). Significant technical damage was done as the pair broke below previous support at 1.3365, opening up the door for further drops. To take advantage of a bearish continuation, we highlighted a sell opportunity at 1.3343 yesterday afternoon, and this trade has now triggered with a stop at 1.3407 and a target at 1.3260. Note that it would also be prudent to move stops to breakeven on a move down to 1.3302, which we have yet to see. For now, we will let this trade work with no adjustments.