EUR went down to 1.4285 yesterday hitting huge SL. Today all shall wait for Mr.Trichet pressconference which is going to be broadasted @ 2:30 pm CET. If he signals there will be another rate hike till the end of this year, we are going up again and maybe over 1.45. If he is dovish EUR will go further down maybe to 1.4060 and even below. So you should watch carefully what he says and if you can stay aside, and wait for the EUR to clear the direction.
Yesterday rating agencies doomed my forecast, as their rating announcements know in advance just a few big players. For today EUR rise is limited by the level of 1.4380 on the upside and 1.4280 on the downside. Until the pressconference we shall move in between. Exitting the Daily triangle will give us the direction for the following weeks.
Enter when the trend is clear and place a 50 pips stop. Any comments and questions are welcomed.