Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

EUR/USD Approaching Reversal Point?

|Includes:SPY, UDN, PowerShares DB USD Bull ETF (UUP)

The Euro/Dollar is approaching it's 50% Fibonacci Retracement Level from its May 2011 highs to its July 2012. 50% is a pretty common reversal point. It could be nothing, or could be everything. Check out the chart below.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: UUP, UDN, SPY