Jan 29, 2007

Major currencies move with Euro-Zone Finance Ministers Meeting

I am longing EUR/USD @ 1.2930 and looking for 1.3025 as the final target in this position. 8SMA and 200SMA decided this entry for me. Anyway will keep follow up with T-Stop. Overall I will still be aware for any long position suggesting in other non-$. Euro showing its strong now and I believe that any move up of non-$ wave afterward should be leading by this pair.

Meanwhile, EUR/GBP just hitting my expectation for the day @ 0.6615 and I had tighter up the T-Stop within my last position in this pair to protect more profit.

In Euro-Zone Finance Ministers Meeting, we have nothing much special comment from them. Concerning about the aggressive forex volatility being repeating again. Yen became the focus in the meeting but we all know also the Japanese government attitude on Yen so far and I do believe that such reaction of Japanese government will keep lasting until the day when Japan internal consumption power back in leading the country's economy grow(for sure such situation will not be able to achieve shortly). Anyway, Yen cross (especially EUR/JPY) should face more tension in any new historical high search now.

(EUR/USD now @ 1.2954 , EUR/GBP now @ 0.6613)

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