The Euro bounces slightly against US dollar from a 2-year low. The pair managed to close above 1.2300. At yesterday's session, the German Industrial output edged up 0.2% in October for a second month. The major event falling on Thursday is Targeted LTRO. This event turns this week to a key week for the euro zone. The nearest resistance exists at 1.2360 and support exists at 1.2255 and 1.2240. The pair is facing strong resistance at 20hrsma and 1.2320. We recommended selling on every rise, we are repeating the same again. The weekly resistance exists at 1.2362 and weekly supports exist at 1.2250. We recommend selling at the current market price or below 1.2300. In case if the pair closes below 1.2230 on a monthly closing basis, we can expect another 200-pips downfall. For an Intraday view, the prices are closed above 35DEMA at 1.2590. We recommend selling on every rise up to 1.2360. For an hourly view, the pair has support at 1.2307, below this 1.2290 is acting as support. In case if the prices fall below 1.2270, it can extend its fall up to 1.2240 and 1.2220 levels.