Market Update - Sep 29th '09

The bounce was anticipated on the Fib level but definitely stronger than we would have thought, to aim straight back at 1062, key level, now Fib upward retracement level.
We'll therefore watch that price level closely today. We have been telling that the bullishness we've have for a number of weeks is bound to come to an end, even if it can still creep a little higher.
The same situation for TF could take it back to recent highs (check for 614 first) but we have to be careful here too. Buying pressure is still present but could evaporate leading to increasing hesitation and volatility.

EURUSD: watch same key level at 1.464

( posted 6:40 AM UK )