EURUSD Lost

28 Sep
2012

The EURUSD appears to have lost its sense of direction.  The cross has wondered to the left and to the right but has lacked any conviction.  Heading into the near future this could continue to be the norm.  With the QE infinity, USA presidential elections and fiscal cliff worries weighing on the dollar.  Countered by EURO concerns ranging from rioting in the streets in Greece and Spain, political infighting amongst European countries and an economic recession. 

Heading into the next week the range has been well established.  Resistance begins at 1.2970 and support at 1.2830.  The range could play out once again next week.  On the weekly chart the bias is for a continued move lower.  A break of support exposes the .382 fib at 1.2742 of the resent rise from 1.20. 

Sup    1.2830

Res     1.2970

Keane Plan...Playing the range.  Looking to sell to the topside for moves lower.

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