Dollar Treads Water..

I smell something fishy here,...smell like a dead rotten fish. I just couldn't fathom the price action post-NFP, where the euro initially going up and down aimlessly, I prayed and anticipated the price to breakout from recent ranges, especially after the better than expected NFP number but DAMN, it never materialized. So at the end of the night, I just flipped the bird. But my three years experience in forex trading has taught me that the unability for a particular currency to follow through despite of a strong number, telling me that the short-term reversal might be just around the corner. Yes, indeed..the euro failed to break the 1.3390 support and subsequently made an impressive 60 pips comeback rally, just after the ISM report announcement. So, overall the euro ended up closing this fundamental-heavy week nearly flat.

Pivot Points:

R3 = 1.3545

R2 = 1.3502

R1 = 1.3475

PP = 1.3432

S1 = 1.3405

S2 = 1.3362

S3 = 1.3335

Trading ideas = buy 1.3410, 1.3380, sell 1.3575, 1.3500