Sunday, October 07, 2007

EUR/JPY Quick Update

The European finance ministers are scheduled to discuss the weak dollar and the strong euro, and if they decide to help the dollar, the ECB will start to sell euro in market intervention. I'm just saying... carefully hold long crosses against the yen. Trichet is scheduled to speak at three different occasions for this week, who knows what's going to come out of his mouth??

Monday's Pivot Points:
R3 = 166.91
R2 = 166.15
R1 = 165.75
PP = 164.99
S1 = 164.59
S2 = 163.83
S3 = 163.43

Last week's gains = 187 pips per lot..

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