26 Nov 2007

1. News: Europe will not have many news today to create major upsets in the currency.

US consumner confidence, which will be announced today at ST 2300hrs, will have an impact. This index has been on the decline, which may confirm Fed about the state of the economy.

2. Stock Markets: US did a small recovery, probably due for some profits taking. Europe lead the way, showing a rebound on Friday.

3. Major Currencies: USD in strengthen on Friday.

4. Technicals: From the CCI, a rebound occurred in the center BB line. BB has also thin out. From the daily chart, WMA5 has been sandwiched between EMA21 and EMA55 for a few days. These are all signs of breakout. From the hour chart, WMA5 has swing above and below EMA200. Today is still a day of dispersions.

5. Personal Assessment: Should a breakout north occur, I will place the resistance at 2.0770 and for the other, support at 2.0500.