Turning Point

Today we have ECB and BoE interest rate decision as well as Trichet speaking so expect volatility. Tomorrow we have Non Farm data so once again expect even more volatility.
The chart shows a turning point today but that may not come into effect based on news that is due out. News will overide technicals in the short term but technicals overide in the long term.

Yesterday we were 5 trading days from the recent low and the price rallied to exactly 0.941 fib plus today is a fib time extension from the previous high of June 5th so numerous factors are showing the significance of the time right now. Unless we break 12980 the trend is still down.

Good luck.