EUR

@Pipster: it's always a matter of perspective when you play the markets. From MY perspective the 1.3480 is just a lower bound of a support/resistance area and I see that area (or band) roughly between 1.3480 and 1.3560 where 1.3500 is also a fibonacci 78.6% retracement level of the latest move down from 1.3570 to 1.3270. And because the way I'm managing my risk, I don't consider 30-50pips as a significant move. Therefore the 1.35-1.36 is a good area for me to take shorts IF the market fundamentals will be suggesting more EURUSD weakness at that time. Of course, there is always big chance that after I short the market it will move 30, 50, 70 pips against me before it resumes the downmove and I must count with that. There's never a single right price level known upfront ;)
I don't know how much newbie you are, but you should know that there is infinite ways how to trade and you will have to find your own which of-course takes time and effort.
Hope that helped a little.

@
I wish u - have a nice Weekend, im heading off...

ciao

@Pipster:
for me, IF eurusd closes below 1.3440 today, I will keep my bearish bias. There are options up to 1.3440 expiring today. Right now eurusd plays around 1.34 and jumped only slightly on better U.S. CSI. So despite of all the talks about greece help, there's apparent confusion among traders. IF eurusd manages to close above 1.3440 I'll be assuming 1.35-1.36 as a good levels for more shorts. But Im trading on low leverage therefore 30-50 pips is a noise for me. So be carefull if you want to follow me ;)

@INGbalek:
Talks are going about today's short covering on euro. Meanwhile Moody's said the EU-IMF help will not change the credit rating and Im looking for more downgrades of Portugal by Moody's and S&P in the near future. The minute it happens the eurusd will get lower.

@ptaczek
that confuses me as well,,Trichet's speeches varies very frequently, as if somebodywas s telling what to pronounce...
as for eur,,,as ashraf has written, 1,3450/80 still intact...
I would be very surprised, no, confusely surprised if it went more above..very strong technicals over there and there is still portugal and other european countries with similiar troubles (italy, Ireland, england,...etc)...
but market is market, U cant fight him, its better to be a friend of IT/Him:-)

@INGbalek: right now it seems there are more EUR-positive news or they are at least interpreted as positive by traders. I mean the EU-IMF mutant bailout for Greece. It's a bit embarrasing to hear JC Trichet said in one day that EU-IMF help to Greece is 'very very bad' and then suddenly it's 'workable solution' while being silent about Portugal which got downgraded two days ago by Fitch. I can sense something very very fishy under the cover but I wouldn't be surprised by more EUR upside.