Sunday, July 01, 2007

Euro Bounces Back!!


The dollar slumped against the euro on the divergence between the Fed and the ECB in their respective interest rates outlook. I anticipate for the euro to make another high in the wake of NFP news, the marquee event of the week. In the mean time, the euro has to sustain firmly above 1.3550, before setting stage for another assault higher. If that happen, I'll jump on the bandwagon in the split seconds! (Hehe..hopefully).

Monday's Pivot Points:
R3 = 1.3692
R2 = 1.3617
R1 = 1.3578
PP = 1.3503
S1 = 1.3464
S2 = 1.3389
S3 = 1.3350

Monday's Calendar:
1- US ISM Manufacturing Index 10.00 pm

Monday's Strategy:
1- Asian high low breakout.
2- Waiting for a sell signal from the EMA 365 setup.
3- Waiting for a sell signal from the Cornflower setup.

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