The EUR/USD which has been in consolidation since Dec 18 2009, hit a hard floor this morning near the 1.4280 area (s3) with a low of 1.4261. This may act as a turning point for the pair after weaker than expected Q3 US GDP temporarily put the brakes on a move to the down side. We also have divergence on this pair so an up move after three tries is entirely in the cards. Above the current price, the trendline (pinkline) is currently at 1.4322 and becomes the key short term, upside target.
