In This Issue:

EURUSD: Although the pair is being threatened by the bears nearer term and now looks to target the 1.2624 and the 1.2586 level, its Aug 24’10 low, its overall short term uptrend triggered from the 1.1875 level still remains intact...


EURUSD

EURUSD

EURUSD: Still Threatening The 1.2624/1.2586 Levels.

EURUSD: Although the pair is being threatened by the bears nearer term and now looks to target the 1.2624 and the 1.2586 level, its Aug 24’10 low, its overall short term uptrend triggered from the 1.1875 level still remains intact. With that said, while its present weakness is limited to the 1.2624 and the 1.2586 level, its Aug 24’10 low, we look for a return to the 1.3332 level, its Aug’2010 high. A break will resume its short-term uptrend and target its .50. Fib Ret (1.5143-1.1875 decline) at 1.3500 and then the 1.3691 level, its April 12’10 high. Alternatively, if its current weakness pushes the pair through the 1.2586 level, its Aug 24’10 low, further downside risk will open towards the 1.2522 level, its July 13’10 high and then its Jun 20’10 high at 1.2466 and possibly lower.