FX.co ★ EUR/USD Buy Above 1.2820 for September 27, 2012 (Daily Strategy)

The euro is quoted below 1.2945 fractal which now serves as a resistance and above the moving average of 200 periods around 1.2820, which serves as support. This is a level of uncertainty; if you want, you can buy over the daily fractal above 1.2945, or enter support levels around 1.2820 and set the stop-loss below the 200 EMA around 1.2760.
At the fundamental level, market sentiment remains fragile; the Europeans have added austerity measures with the help of which the leaders try to contain the debt crisis in the region. Spanish Prime Minister Mariano Rajoy may submit fifth package of budget cuts and protesters gathered near the parliament in Madrid yesterday, while in Athens Greek police dispersed protesters with tear gas.
It is likely that the euro optimism comes to an end and we can observe the beginning of a new sequence bassist, so we must expect the euro traded below 1.2750.