EUR

1.2875 is 38%fib of the last selloff

cat,
be cautious with eurchf is doing a new range

Ashraf,

do you see eurusd to break MM50 1.2855 ?

1.25 more like

Some facts behind the assumed German economical recovery.... its a credit bubble:
From Basel III summit ( Bloomberg)

The rule-making process, which began in 2009, has pitted countries against each other. Some, including Germany, have said higher capital requirements will hurt their banks and curb lending at a time when global economic recovery is faltering. Germany led the fight for lower ratios and a slower time frame for implementation, according to participants in the talks.

European banks are less capitalized than U.S. counterparts and may be required to raise more funds under the new Basel rules. Deutsche Bank AG, Germanys biggest lender, said today it plans to sell at least 9.8 billion euros ($12.5 billion) of stock. Germanys 10 biggest banks, including Frankfurt-based Deutsche Bank and Commerzbank AG, may need about 105 billion euros in fresh capital because of new regulations, the Association of German Banks estimated on Sept. 6.