Monday, January 05, 2009

Today's Report

* The Euro has not bounced too much, it's still trading in a tight range. Indicators are pointing up. Other things being equal, I shall be looking to bid this unit on any retracement. Of course, that could turn on a dime.

* Economic calendar is barren as far as today goes.

* The CCI indicator is in neutral zone on 3 time frames - one hour, four hour and daily chart. The Stochastic however indicates readiness for the market to support the Euro, and it is quite possible today to see again sharp rise towards the top 1.4050. First resistance is seen at 1.3980, which is 23.5% Fibonacci of the above level. (ActionForex)

* Live Trading: Sold EUR/USD 1.3694 [Closed +47 pips]

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