NZ, Australia & Italy are out today.
E$ continued to close firmer at 1.3196 for the day but still below the 1.3200/20 band. Is this intentional to create uncertainty or what??
Really nothing much to update here when the whole market is focusing solely on the FOMC statement in the early hours of Thursday. Don't you love it when the time has been brought forward from 2.30am to 12.30am (Sin/HK)?
Reported stop loss orders are residing at 1.3050, 13230-50, 1.3280 & 1.3320. Just like lightning, the chances of it striking the nearer targets are a whole lot higher. Having said that, do note that technical views are not formed by looking at stop loss orders. Rather, it is used to reinforce a technical view. So don't lose sleep if you do not have those information, life goes on :)
E$ longs established in the past 2 days should place trailing stops (remember the advise in "Ready for Action?" dated 20 Apr 12) or if one is comfortable with the cushy profit.... take it, since the immediate resistance stands at 1.3210.
For today, 1.3165/75 to hold (1.3110/20 news induced) and 1.3300 to cap. (Minor resistance at 1.3210 & 1.3240).
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