EUR/USD 10/22/2012 2:42 PM 
  1 week Trend:  (UP)   1 month Trend:  (=)
  EUR/USD intraday: rebound.
   Pivot: 1.3015

Our preference: Long positions above 1.3015 with targets @ 1.3075 & 1.312 in extension.

Alternative scenario: Below 1.3015 look for further downside with 1.299 & 1.2955 as targets.

Comment: the pair is pulling back on its former bullish channel upper boundary ahead of a rebound.