In This Issue:

EURUSD: Having closed strongly higher on the back of previous week strength, further bullish threats are now likely as we enter a new week…


EURUSD

EURUSD

EURUSD: Set For More Gains.

EURUSD: Having closed strongly higher on the back of previous week strength, further bullish threats are now likely as we enter a new week. This technical development should call for more strength towards its Aug 18’10 high at 1.2921 with a violation there targeting the 1.3332 level. A break will resume its short-term uptrend targeting its .50. Fib Ret (1.5143-1.1875 decline) at 1.3500 and then the 1.3691 level, its April 12’10 high. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, if weakness occurs, the 1.2586 level, EUR will target its Aug 24’10 low followed by the 1.2522 level, its July 13’10 high. Further weakness if seen will aim at its Jun 20’10 high at 1.2466 and possibly lower.