The EUR/USD is currently in a down trend on the larger time frames, like the W1 time frame shown below. Current support level is at 1.2770. You can set a price alert there. Below there it has minor support down to about 1.2700 then very good potential below there to the 1.2300 area, which is around 400 pips. When the alert hits you can look for a sell signal on The Forex Heatmap®. The trends and support levels on the EUR/USD were analyzed using the free forex indicators you see below. These are some exponential moving averages using multiple time frame analysis of trends by individual currency.
EUR/USD Down Trend And Support Levels 9/24/2014