Wednesday, May 02, 2007

A Quick Update For ADP News

The ADP news will be released at 8.15 pm. Market is expecting 107K print versus 106K previously. The appearance of RSI divergence on the daily charts and MACD turning negative in the same time frame supports more Euro weakness. But should the report missed the market target, the euro could take a breath for a while.

Short term, buy at 1.3560-70, buy dip again at 3550-40.

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