What a difference a day makes, 24 little hours..
I'm talking about how euro has already retraced almost 61.8 percent of the plunge from the high of 1.3855 to the low of 1.3360. We have a slew of economics and fundamental data this week, as well as interest rate decision from the ECB, more important than ever. Trichet will speak and he needs to give a clear indication what they will do with interest rate at their next monetary policy meeting.
Monday's Calendar:
1- ECB President Trichet Speaks 9.00 pm
2- Existing Home Sales 10.00 pm
Monday's Strategy:
1- Buy euro 1.3620, 1.3635
2- Sell euro 1.3720
Monday's Pivot Points:
R2 = 1.3770
R1 = 1.3723
PP = 1.3637
S1 = 1.3590
S2 = 1.3504
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