4 Hours Chart:

We now have bullish trend. RSI is once again trying to get in overbought zone. At this moment it is at 70. Both trixes are green and crossed. They are heading up.

Hourly Chart:

But this chart have neutral trend. After RSI got in overbought zone and drop out of it, now is heading back into it very fast. Already is it at 73. We had green bullish divergence and trixes were crossed and green. But fast trix fast change color to red.

15 Minute Chart:

Already a very strong bearish trend. RSI is going down very fast and is already at 36. Trixes just crossed and both were green, but fast both of them change color to red and are now trying to get down.

5 Minutes Chart:

Very strong bearish trend. RSI was deep in overbought zone just few minutes ago and now is already inside oversold zone. This is strong drop. At this moment it is already at 13. Trixes are crossed and both are red and fast trix is already in oversold zone.

Fibonacci Pivot Line is at 1,27311 and we have open just few pips above at 1,27360 and since opening we were going up. But since then we have drop back to open line.

Support Lines:
1,27002
1,26701
1,26512
1,26323
1,26022
1,25713

Resistance Lines:
1,27612
1,27913
1,28102
1,28292
1,28593
1,28901

Plan:
We are going back down. Was that bullish movement just bouncing which is over now? Will Euro go down to 1.1? Many questions and no serious answer. We need to see and wait. But for now our trends are in bearish favor. So we should be looking to go down.

Forex News:
Many news today, some are more and some are less important. But most important are this: PPI m/m, TIC Long-Term Purchases both effecting USD. First one starts at 14:30 and just half hour later will second start. As well we have a breaking news and reason why we at this moment are going down: It looks like Italy will have credit rating downgraded by 2.

We will not enter a trade at this times:
9:30 – 10:30
14:00 – 17:00

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