Markets are waiting on Prelim/Consumer sentiment. Technicals prior to that indicate: We have reached the top of the channel and have a pullback. A bounce on the channel line targets the double top @ 1.3161. Break of that channel targets the .382 at 1.2932.
What ProAct Traders sees in the Forex starting the week of September 12, 2010 -
REMEMBER: THIS IS BIG PICTURE ONLY - NOT INTRADAY! Please NOTE!!!! This is an opinion only! CLICK ON IMAGES TO ENLARGE
WHAT ProAct Traders SEE: We have broken the bear flag on the cross which continues to be bearish. Currently sitting on support at 1.2686. Further targets are at 1.2603, 1,2500 and 1.2462. The upside risk is to the 1.3024 area.