Rally since July: The EUR/USD has been in a bullish mode since the 1.2042 low from July 24. The euro has been in a reprieve and the US dollar has been losing ground due to increasing speculation of the FOMC to implement QE3. Even before the NFP last Friday (9/7), the market already pushed through the key resistance pivot near 1.2750. As we begin a new week, the EUR/USD is challenged by some resistance factors. 1) As the daily chart show, the RSI just tagged 70, a sign of near-term overbought condition, but also a sign of nascent bullish momentum in this time-frame. 2) Another factor is the 200-Day SMA, a common ... (full story)