New Trading Day on EUR/USD

So, here I am...new trading week, and all the results that happen last week do not really matter. I ended it on a down note as I was thinking that there will be some profit taking on Friday which did not happen. Naturally then, today the selling in forex of euros is continuing and nothing significant seems able to stop it. Who knows how low can we go. So today is a new day and new trading opportunities.
Here is hourly morning chart:

















We are seeing some minor support at 1.2280-50. We will see how well that can hold. Any bounce up might be able to provide selling opportunity. Increased volatility should result in smaller trading size and widening of the stop losses so as to prevent being taken out too fast. So, here's how I see it:

1- Long term trend -Down
2- Short term trend -Down
3- Fundamentals- Negative
4- Already testing lower range, so wait for a bounce back or brakdown below lows to enter new sell position.