FXstreet.com (Barcelona) - EUR/USD has opened the week to the downside breaking the triangle it had been trading into for the last three weeks. The Euro has dropped from 1.2850 to 1.2725 where it is attempting to make a recovery
At the moment initial resistance remains at 1.2725 where an attempt can be made to launch an attack to the 1.2810 area, although the Euro is looking bearish, according to the Mataf.net Technical Team, and drop to lower levels seems more likely: The volatility is high. Bollinger bands are deviated. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,2730 (13 pips). If the support breaks then the target will be 1,2300 (443 pips).