CPI Data

I forgot to mention in the previous post that CPI data is out at 09.30am so beware volatility. If you are not already in a trade then the best thing to do is stand aside. If you are already long then tighten your stops to at least break even if you can without getting to close to the price action. I have a break even at 12655 to give you some idea.

Euro Consoldiating

Euro did move up yesterday and is consolidating currently. I am still long the Euro and expect a further move up. The thick fib bars are my predicted areas of resistance.

If you are not long then stand aside and wait for the move up as it probably wont be big enough to capture a decent profit and just wait for the market to change direction to look for shorting opportunities.

Please remember to do your own analysis.

Good luck today.