Thursday, June 14, 2007

Shrug Off

Traders shrugged off US stronger than expected data, sending euro higher at the end of US session. But the inability for US dollar to rally after better than expected retail sales data did throw me off..Further decline is still in favor as long as 1.3365 resistance holds.
Pivot Points:
R3 = 1.3382
R2 = 1.3347
R1 = 1.3328
PP = 1.3293
S1 = 1.3274
S2 = 1.3239
S3 = 1.3220
Trading ideas: buy 1.3275, sell 1.3330, 1.3360

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