$USD, Still Leading the US Indexes Lower Sym: /DX

EUR/USD Weekly, Very Important Support

We are at a very important support level right now on the Eur/Usd on a Weekly timeframe:

1. The Weekly 20SMA and 50SMA Neck Tie. Of which, the 20SMA is Ascending, which can make for a good "Bump and Run" Type play. The Target would be upwards of 1.50-1.60 over the course of 2-4 Months.
2. We are also at the bottom trend-line of what looks to be a symmetrical triangle. A hold of this support line over the next 1-2 weeks is imperative for the Eur/Usd to maintain its upward momentum that is has seen since June 2010.
3. We also have the support of our previous breakout level at 1.3334. So far, the E/U has bounced directly off of the level but is lacking momentum/conviction due to the US Holiday Week.
4. The ideal scenario is for the E/U to put in a reversal candle after next week, in which the candle has a rather long tail underneath and closes up for the week above our lower trend line.
5. A buy on the reversal of this candle, being patient to wait for the close before a full position is taken, would yield an excellent risk/reward trade. I am looking to enter around the 1.34-1.3450 area (1/3rd Position) during the middle of next week ( Week:11/28/2010-12/03/2010). I would like to enter into 2/3rds of my total position towards the end of Friday next week if  we look like we will be closing on the highs of the week. I would enter the remaining 3rd position during the following week.
6. ENTRY: 1.34-1.36 on weekly reversal candle
7. STOP: 1.3086 on close below the 38.2% fib retracement from the November 2009 High's to the June 2010 Low's.
8. TARGET 1: 1.3950 which is around the Weekly 200SMA and the 61.8% Retrace Pivot Point.
9. TARGET 2: 1.4282 which is the most recent pivot high.
10. TARGET 3: 1.5144 which is the pivot high of November 2009 and 100% retrace off the lows of June 2010.
11. TARGET 4: 1.6039 which is the high pivot from October 2008.
12. A trade that will take plenty of patience but offers tremendous room for upside with limited downside risk. 

Weekly EUR/USD Trend-Line Support, 20 and 50 SMA Support

SP500 Short Term - 200 Day SMA Consolidation - Reversing at 50 Day SMA

SP500 E-Mini Futures:
Yellow = 200 Day
Sell-off consolidating at 200day and 50% Fib level of previous high/low pivots.
Looking for continued sell-off with next major support being the 50day SMA at 1167 and the green trend line at 1150 which is part of the bigger weekly time frame triangle breakout as seen in my previous post.

SP500 E-Mini - Weekly - Triangle Breakout