Royal Bank of Scotland - "A very mundane Monday for EUR/USD but there are many more signs in this market that it is set to go down than up; the trend line of resistance and the recent rejection from the 1.3080 level are the 2 main ones. The Fibonacci retracements on the 15th Oct –18th Oct rally provide the key levels as the 50% retracement proved at 1.3016.so I like being short in the short term and stopping through the trend line or the pivotal 1.3080 level. Downside targets at 1.3016 onto 1.2987.
SUP: 1.3016 1.2951 1.2894
RES: 1.3080 1.3137
Strategy: Short here or fade rallies back to the resistance line around 1.3060, stop through the 1.3080 level. Target 1.2987."