EURUSD tests 38.2% Fibo resistance at 1.2871 level
The EURUSD is up testing the 38.% retracement of the move down from the August 6th high to the low on August 24th. That level comes in at the 1.2871 level. The high for the day reached 1.2872 minutes after the NFP report. A break above will target the 1.2900 level where the trendline off recent highs come in.
Good Morning:Thursday Sept 2nd 2010 Webinar Rebroadcast
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Bobbys Corner-Open Market-Sept.2.2010
Good Morning:
A fairly stable overnight session brought no new surprises to the market. The GBP lost some steam as UK housing showed a larger than expected drop in prices. EZ data showed that GDP in the region printed at 1%-as expected.
The ECB left key interest rates unchanged, which was expected. The ECB may keep themselves in “crisis mode” till next year-as the economy is still too fragile to take away any of the stimulus measures that are in place.
