Eur/usd

[davis9786]

For the couple EUR/USD the variations have been great within the last six months, it was between 1.2900 and 1.2500, the breakout will be probably violent. Fed will release its monetary policy decision, maybe it's time to head south, the theoretical objective would be 4 figures down, until 1.2100. EUR appears to break the resistance near 1.2650. What’s your opinion?

[Anna-Maria]

?? Looks like you've repeated the exact same comment under another thread last Wednesday.

http://www.traderslaboratory.com/for...-usd-1195.html

Anyway, what constitutes 'violent' in your book?

It's retraced approx 60% of it's summer 06 range, considering the prev retracement printed shy of the 50% marker of the prev wave up from Feb-May 06, that constitutes reasonable bullish behaviour.

2860-90 is it's 1st line defense on any confirmation of a critical top, with 2450 the fulcrum line on the weekly (a tad below 50% of the Nov 05 low - 06 highs).

Like I say, depends on your interpretation of violent, but the Euro Bulls will certainly have something to say at a couple of those upper levels before 1.2100 comes into view.