As widely expected, ECB raised their interest rates benchmark last night, and the event turned out to be quite a non-event. Trichet said that the policy is still in the accommodative side, indicating that the next hikes could come before the year's end, gradually and in timely manner. Nonetheless, that's good enough for us to long euro at this moment. Ahh..and I forgot to say that Trichet made no mention of his infamous word 'vigilant'.
Pivot Points:
R3 = 1.3577
R2 = 1.3557
R1 = 1.3526
PP = 1.3506
S1 = 1.3475
S2 = 1.3455
S3 = 1.3424
Trading ideas: Buy 1.3475, 1.3490, sell 1.3535, 1.3560
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