Updated the:
05/21/2012
EUR/USD Technical Analysis comments :

Sentiment :
sentiment
1.29
sentiment
1.28
sentiment
The pair EUR/USD has faked last friday the breakout of the support at 1.27 and is currently testin a pullback on 1.28.
The pair is still moving below the lower band of its bearish channel (purple line).
A paralell of this bearish channel is acting as resistance (pink line).
All indicators are still bearish.
We continue to advise short positions as far as 1.28 is resistance.
A return below 1.2750 will comfort our sell signal.
The breakout of 1.27 will give a new sell signal and open the way towards 1.2650 and 1.26.
In case of return above 1.28, we will then wait the breakout of 1.29 to advise long positions.
Complete sheet of the pair EUR/USD - Previous EUR/USD Analysis
Chart of the pair EUR/USD - Timeframe 4H - Zoom in :
EUR/USD
 
Chart of the pair EUR/USD - Timeframe 4H - Zoom out:
EUR/USD

following

EUR/USD Live Chart - Timeframe : 4h
Chart