Perhaps euro's fate for today will be determined by the result of the CPI report, released at 8.30 pm tonight. A very strong inflation report could take euro down to break 1.3300 and towards 1.3360 support once again. On the other hand, a very soft release could propel the pair up towards 1.3380.Euro is trading at EMA 365 currently (EMA 365 serves as resistance). If you've been using my EMA 365 technique, (long/short whenever there's a gap of more than 50 pips between the price and the EMA 365)...well you'd probably forked out some good profits already.
My strategy for post-CPI news:
1-I'm going to short euro if price does climb up to 1.3370-80 resistance, (MACD flats , stochastic 1H overbought and has made a turn)
2-I'm going to buy euro if price does tumble down to 1.3260-70, (MACD flats, stochastic 1H oversold and has made a turn)
AS SIMPLE AS THAT!!!
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