Saturday, September 30, 2006

We should see some volitility return to the market this coming week. ECB and US have events that should move the EUR/USD. ECB interest rate is due 5 October while the US non-farm employment numbers arrive 7 October.

Upcoming Events

Thursday will bring the current ECB rate data. The consensus is for an increase to 3.25%.

Tuesday, September 26, 2006

Consolidation

After reaching support at the low for the session, EUR/USD is now catching its breath. Since it appears that the pair doesn't seem to want to move past resistance at 1.2690 look for another push lower. The next support level is at 1.2660.