### - POV - Eur/Usd has recovered.......>

EURO-DOLLAR: ### - POV - Eur/Usd has recovered just over 50% of its lost ground,

after rate had extended its corrective pullback off Thursday's high of $1.1910

to a post NFP low of $1.1728 Friday. Rate has since clawed its way to $1.1824

but seems content to hold around $1.1815($1.1819 50%). The rate is showing

buoyant signs, Les Castell the MNI Technical analyst has suggested this will

remain the case whilst rate can hold above $1.1712(Jul 25 high, 76.4% Fibo of

$1.1650-$1.1910). However, several bank trader reports see room for a move down

to $1.1650. Possibly wishful thinking as they look to enter longs around this

level, though one admits he might have to lift his entry area to

$1.1720-1.1.1680. All attention has switched to Friday's US CPI release.

Following on from last Friday's US NFP data the market is now of a realization

that the dollar can trade two-ways, following the recent one-way pressure.

Upside remains favored, though traders would prefer to buy into a dip, a break

of $1.1870 needed to boost upside hopes.