It seems as if the EUR/USD has hit a resistance at the 1.3450 level. In the past few hours the currency pair has been sticking between the two trend lines that I have drawn. Is it a good time to take an up position? Tomorrow the minuets from the FOMC meetings will be out, however, it is not expected that they would be any change in monetary policy tomorrow. There is, however, a lot of uncertainty as to what the Fed will do in September. Most market participants are expecting a tapering of QE to $65 billion a month from the $85 billion we have grown use too. All and all, September will be an interesting month.