More lows overnight; but buyers show up. Hook reversal showing from the toolbox today suggests aggressive traders can buy the rate soon.

Rate possibly getting spillover effect from GBP. Overnight news shows inflation not as bad as expected also helping to lift the rate a bit. Support possibly from option trades; but those are cleared. Official interest noted traders say but rate continued to sell-off.

Rate is an absolute screaming buy in my view—I can't see further weakness being ignored by the buyers but conditions are not right I think; possibly overnight tonight into Wednesday.

Oil pressure likely spills over into pricing and if oil rallies it might take EURO with it. Traders note stops building above the market along with offers. Expect more two-way action with upside bias; traders note the rate is finding profit-taking bids on dips so far despite the uncertainty in the market.

EURO/USD Daily

Resistance 3:  1.3050
Resistance 2:  1.3000/10
Resistance 1:  1.2800
Latest New York:  1.2646
Support 1:  1.2330
Support 2:  ?
Support 3:  ?

Data due Wednesday: All times EASTERN (-4 GMT)

All Day EUR German Prelim CPI m/m

Forex Analysis by Jason Alan Jankovsky at ForexPros.com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check http://www.forexpros.com