Surprisingly the September Euro is off balance to start today and it enters the Thursday US trade sittingjust above up-trend channel support of 1.3601. The Euro is seeing some support from favorable Germaneconomic dialogue and from hopes that Russia will be prompted to direct the separatists to cease-fire in theUkraine. However, the Euro might be facing minimal pressure from the US scheduled report front, but US data oflate has been notoriously fickle and therefore the data might not live up to modest growth expectations. Until thetrend-line support at 1.36 is violated we leave the bull camp with a very thin edge.
Technical Outlook: Positive momentum studies in the neutral zone will tend to reinforce higher price action.A positive signal for trend short-term was given on a close over the 9-bar moving average. With the close over the1st swing resistance number, the market is in a moderately positive position. The next upside target is 136.8350.The next area of resistance is around 136.5900 and 136.8350, while 1st support hits today at 136.0700 and belowthere at 135.7950.