Europe Weakness

Europe is dragging down the futures again.  The euro is the story of the day, as it is breaking new lows.  And gold is breaking to new highs.  It is getting close to a climax of euro bearishness and gold bullishness.  I am not playing it either way, but I see it as a poor trade to go short euro here.  As for the ES, it is getting whipped around by Europe but the demand for US equities seems pretty robust despite the weak futures.  Shorting current levels is not a good risk reward situation.