The Falling Euro?

Eur/Usd held 1.2700 because of a supporting trend line and an option barrier at 1.2700. The Eur/Usd later rallyed to 1.2900 area and begain to trade off those highes. We might see Eur/Usd retest those lows and might break through to retest the Oct. 27th lows around 1.2330-1.2400 area.

We see here on the four hourly chart that Eur/Usd bounced off the top of the tendline of this wedge.

Looking at the Daily line chart seems like the Eur/Usd might continue to the gap on the rally up to 1.4700 level and retest the lows.

Eur/Gbp helped the rally on the Eur/Usd at 1.2700 supporting the eur at 0.8800 level we need to keep an eye on this pair to help indecate the trend of the Eur/Usd.

Eur/Jpy seems heavy with the Usd/Jpy still in a downward trend if it breaks through this channel we might see the Eur/Jpy continue to fall to all time new low.

Here we see the Usd/Jpy in the downward wedge but hold above the lows of .8700 with the fear of Bank of Japan intervining in to the markets.

We need to see a few levels break before we can see this Eur/Usd trade lower one is the support level of 1.2700 with the next support around 1.2430-1.2500.

Eur/Gbp support level of 0.8800 and the Eur/Jpy around 113.00.

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