AUTOREFRESH 
A close above 1.2760 would lift euro’s spirits
By Jamie Coleman || August 26, 2010 at 19:52 GMT
|| 6 comments || Add comment
EUR/USD briefly overcame the 50% retracement of the 1.2933/1.2588 range that has been carved out over roughly the last two weeks. If we can get a close above the 1.2760 level tonight, we have a shot to retest those range tops headed into next week.
Given that the “stocks down/EUR down” correlation has become a bit frayed this week, poor US GDP data may not limit the topside tomorrow, while a very dovish Bernanke would surely encourage a topside probe.
1.2802 is the 50% retracement of the 1.2933/1.2588 decline for those keeping score at home. Stops are seen below that level, at the 1.2780 level, dealers say, with more at 1.2830.
Tomorrow´s close is very important now that we are still trendless.
That’s a given. We’ll see how the Asian markets treat the down US market. Europe’s opening could be very interesting since there didn’t seem to be a lot of conviction in their markets today as well.
this “trendless” malaki is a pain in the butt (not unlike the garlic in the case of the Provencal chicken), I feel like a fish out of water (wouldn’t be as tasty as the chicken though, I’m sure
)
Amazing dying fish on the sun…. even such a fish would move a bit more…
Good thought.
Why EURUSD fight here http://marketrend-forex.blogspot.com/2010/08/eurusd-why-fight-at-this-levels.html
In case you missed the ‘Forex Report’ last night, NO WORRIES!! It’s right here –
http://marketrend-forex.blogspot.com/
USDCAD – 15m Market Thought 26082010
EURUSD Why fight at this levels [ 1.2752,1.2795]
GBPUSD – Trend is your friend – Below 1.5618 expect 1.52