The Euro retreated from resistance at $1.27 on the 2-Hour chart and, after breaking support at $1.255, is headed for a test of $1.24. Follow-through below $1.25 would strengthen the signal, while reversal above $1.255 would negate. Penetration of the descending trendline would suggest that a bottom is forming, with another test of $1.27 to follow.
