FOREX: Technical analysis 09/24/12

EUR/USD

News background:
The market is again in pessimism amid uncertainty about Spain and Greece. For this reason, the pair is still adjusted downwards. But the movement may be suspended if the bad data will be released today from the German Ifo business climate indicator for September.

Technical picture:
From a technical point of view, the pair found support at 1.2940, from which it can bounce up against the good statistics. The pair is below the center Bollinger MA 5 and MA 21.
Oscillator Stoch. shows the probability of a reversal pair up. The RSI also provides a signal to the local increase in the pair.

Trading recommendations. Buy a pair of short-term to 1.3060.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital