AUTOREFRESH 
EUR/USD breaks 1.3100; bullish think-tank report rumored
By Jamie Coleman || July 29, 2010 at 13:41 GMT
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EUR/USD has taken out the 1.3100 level amid market talk of a bullish report from a NY think tank.
Be advised, their last report forecast and RBA hike. Since then, soft CPI data cut the odds of that happening….
Next resistance for EUR/USD is at 1.3125, the 38.2% retracement of the drop from 1.5145…
Zero Hedge reporting that John Taylor of FX Concepts, a large FX fund management firm in NY, is forecasting a major EUR/USD reversal by the end of August. Says odds are high that at least one European sovreign debt issue will fall and thats all it will take for the whole house of European cards to collapse.
Taylor predicted the demise of the euro at the height of the crisis, so he’s heavily invested in failure, just for some context…
pretty strange that we get lots of bullish report only when eur is rising
GBPUSD is testing some long-term resistances now; 50-week SMA comes at 1.5637 and 100-wk SMA is 1.5660. It fell below these SMA in the early days of FC in 2008 and never had a chance to touch them again. Price action near the SMA would be interesting this week.
Was this the guy, that sold eur/usd at 1.50, with a 1.20 target?
“talking his book?”