Euro continues to drift more or less sideways..I see a double top pattern on the daily chart, but in this case, the new trend can only be confirmed with a break below 1.3612. A decline under the former low should see price sinks to 1.3556, on the other side, a push up past 1.3723 calls for another attempt to break the strong 1.3854 barrier. I will make a special report on the current turmoil surrounding the financial markets namely subprime woes or something like that later in the day. I feel so low right now :(
Monday's Pivot Points:
R3 = 1.3782
R2 = 1.3742
R1 = 1.3718
PP = 1.3678
S1 = 1.3654
S2 = 1.3614
S3 = 1.3590
Monday's Calendar:
1- US Retail Sales 8.30 pm
2- US Retail Sales 8.30 pm
Monday's Strategy:
1- Buy euro on dips, 1.3630, 1.3590
2- Sell euro on peaks, 1.3715, 1.3740
2 comments:
hmm.. its about 30pips or less b4 it reach the daily support level.. tq, that will remind me.. btw, I'm watching for the 1.3641 floor to break right now, already made the 3thd bounce..
breaking at this point 1,3600 wil genarate bearish momentum in recent 2 day..
my final target suspected in the middle 1,3550..and the critical one not below than 1,3450..
emm.. ur comment give me more idea..
thanks anne..
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