Mr Bernanke and the gang left their rates unchanged last night, sending euro and other major currencies higher against already wounded dollar. I'm too lazy to summarize their accompanying statement, so you can read it elsewhere on other forex sites.
I was at the sideline three minutes after the big news surfaced, seeing the euro hit 1.3350. I waited for the price to make a small dip before I go buying. Syukran, the price did retrace back to 1.3322, and I immediately jumped on. 4-H MACD histogram confirmed me that the price could take out the 1.3360 resistance line. I was gambling a little here when I set my profit target at 1.3375, hoping that the price will take out the resistance figure and hunt for stop losses. Again, it did, and I booked my profits at 53 pips.
For the remaining week, I think our euro will make an attempt to test 1.3400 and above. 1.3340 provides a good support, so for those who are 'Johnny comes lately', they can enter a trade, make a buying if the price retraced a bit, OR start selling when the large funds unwinding, profit-taking starts kicking in.
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