The single currency still move in a narrow range between 1.26 - 1.32 since beginning of September 2012. With a temporary bullish move after the international lender agree on a new debt upon Greece.
According to the market rhythm method, the resistance stays at EMA 365 = $1.3050 on the daily chart with a potential pull back to the area of SMA 200 = $1.28.
The MACD already shows the round top pattern = sell signal with the risk above 1.3020 and targetting the 200 SMA will provide RR 1:1 or around 100 pips.
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