EUR/USD: Trend Line Break Calls 1.2750

EUR/USD accelerated lower on Friday, and closed beneath a rising trend line connected from 2012 low. As such, its more likely that current pull-back from 1.3170 September peak will extend even deeper. Ideally price will test 1.2750 Fibonacci support region which is our next projection zone. In the following week, price may fall even down to 1.2600 zone, but this will not change the look of a corrective movement which we believe its a complex (B) wave. Wave (B) should find a bottom in November.