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Welcome to the FXReturn.com New York Market Call for August 30th.,2011. DOW: 40 minutes into the open of Wall Street trading the Dow is down nearly 80 points, but still trading above the 10 day average which resides at 11,200. Consecutive closes above the 10 day average will keep the bullish posture of the market intact with the June pivot low of 11,835 as the next upside objective. A close, however, below 11,200 will encourage a wave of selling down to 10,448. Stochastics are recognizing a positive crossover formation suggesting this mornings sell-off will be short lived | EUR/USD: Trading near the lows of the session, but honoring the 10 day average which resides at 1.4430 as support. Consecutive closes above the 10 day average will keep the bullish posture of the market intact with 1.4576 as the next upside objective. A close, however, below 1.4330 will encourage a wave of selling down to 1.4054. Stochastics remain positive suggesting more upside price activity is on the horizon despite this mornings sell off | DailyFX Forum visitors can sign up for our FREE Live Interactive Webinars and Live Trading Room at FXReturn.com as well as review our latest TON: Trade On News Plans for the upcoming week. Please click the following link to view our daily research: NewYorkMarketCallCreated with Camtasia Studio 5
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