Not much to add on a fundamental point of view since our last post, except that a wise friend made the point, that strikes on Syria, even limited to 60 days , extendable to 90, takes care of the budget problem. It would be unthinkable that in a state of war that the Federal Government would go unfunded.
There was good volume at the 1.31 level Thursday, but do not see any significant upside for EURUSD. We are waiting for the pair to move back up to 1.33 before considering a short position.
Weekly Pivot on September futures
PP 1.3171, R1 1.3237, R2 1.3293, R3 1.3415
S1 1.3115, S2 1.3049, S3 1.2927, S4 1.2805