Hello everyone :)
At this point, please trade with extra care, especially on the EUR/USD. Market is testing last week's high and next week, [Thursday, 01-11-2007], at 2:15am (Singapore Time), is the USD's Interest Rate Statement. It is not clear whether the FED's will go for a rate cut and people are fighting on it.
If this week's candle end as a hanging man, it is possible that last week's high is toppish but if it is able to break it, 1.4535 is the next top side to look out for.
On top of that, next week is also the frst Friday of the month, the release of the Non-Farm Payroll data and a couple more of other data releases. This week is possible that market is doing some built in to anticipate USD's Interest Rate Statement which is next week.
JPY's Interest Rate Statement is also next week, [Wednesday, (31-10-2007)], most likely that their rate will go unchange at 0.50%.
Peace and trade safely everyone...
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