The false break of the pattern on EUR/USD has caused the price to slide significantly lower. This false break also formed at the 1.2732 which we covered on Monday. The false break pattern also formed at the 200 period as well as the upper band of the , which adds weight to this drop. The false break of the pattern itself is another bar pattern which once again adds fuel to the bears. Since the price failed to cross above the 200 period golden coupled with Tenken-sen crossing below the Kijun-sen, we could see this false break of pattern leading the price lower in today’s London session. The indicator and the indicator are supporting this downside movement and the and the volatility (as we can see throught the (ATR) indicator) are increasing which is a good sign to the downside. On the flip side, the indicator, ( ) and ( ) are showing the price is currently in oversold territory which could potentially cause the price to take a breather before proceeding lower. The current for this market is at 1.2732 and at 1.2500. With all that being said, we could still have some selling opportunities in today’s London session and the 1.2500 could serve as a target for sellers to take profits.