The euro fell for the first time in four days against the yen on speculation the 16-nation region's economic recovery will stall as governments cut spending to tackle the debt crisis. The single currency also dropped against the dollar before a German report forecast to show investor confidence in Europe's largest economy declined to the lowest in almost a year. Trading Tactics An uptrend could be an opportunity to buy EUR/USD. A buying point is at 1.2180; Pivot point is the take profit at 1.2360; Fibonacci 50% is the stop loss at 1.2085 A selling point is at 1.2075; previous support is the take profit at 1.1950; Fibonacci 38.2% is the stop loss at 1.2140 Technical: Euro breaks the previous resistance level upwards and may continues the minor uptrend. A move back higher could set up a test of 1.2360 To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice histogram MACD is in a bullish direction; RSI (Relative Strength Index) and Momentum are in a downtrend but pointing upwards; stochastic oscillator is in oversold area. Analysis is for information purposes only and does not constitute advice in any form. Past performance is not an indicator of future performance. Trading in financial products carries a high degree of risk to your capital and it is possible to lose more than your initial investment.

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