2 Oct 2007

There are no major news today. As such, the movement may not be wild today.

DOW clear 14,000 and a good rally in yesterday Wall street. Like wise, the European market did fairly with FTSE gaining a 0.6%.

Fundamental, with no major news to trigger movement, It is not expected to have any big rally again in either the Europe or the US market. People these days has become more cautious and take profit first.

Technically, the indication showed a higher probability of a downward movement. Using a 1 hour chart, WMA5 will move side way between EMA21/55 and EMA100. Unless, the intention is to catch any u and down movement, a breakout will be at 2.0330 and 2.0500.