Friday, June 15, 2007

Make It Or Break It??

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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