Wednesday, November 29, 2006

The Next Move

We were able to capture an easy 20 pips yesterday with the much worse than expected US durable goods numbers. The EUR/USD pair pushed to our targeted 1.3200 area.  Today brings the preliminary 3rd quarter US GDP numbers. Currently we are looking at a MACD divergence coupled with EUR/USD price action reversing from minor support. Considering the continued weakness in the USD we will look to go long again today.  Clearing 1.3169 should set the stage for another test of resistance at 1.3220/30.

0 Comments:

Post a Comment

<< Home