Wednesday, August 15, 2007

Euro Continues To Fall

Today's Pivot Points:
R2 = 1.3659
R1 = 1.3597
PP = 1.3563
S1 = 1.3501
S2 = 1.3467

Today's Calendar:
1. US CPI and Core CPI 8.30 pm
2. Empire State Business Conditions Index 8.30 pm
3. TIC Net Long-Term Transactions 9.00 pm
4. Industrial Production m/m 9.15 pm

Today's Strategy:
1- Buy euro, 1.3500, 1.3480
2- Sell euro, 1.3550, 1.3570, 1.3600
3- If 1.3500 breaks, expect the euro to sink to 1.3480 first.

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