Game Plan 12/07/12

The Eur/$ Futures is still trending downward, it will be quite important to see the future's behaviour  at 1.2222$ and in the 1.2270$-1.2280$  area.  The breakout of these two levels or regions will activate a reaction in the Equity futures' market.

DJ Eurostoxx50 Sept Future:

• 2227 – Support, a breakout will drive the market down to 2200 area and subsequently to close the 29th of June Gap @ 2170
• 2253- Resistance, yesterday high, multiple times the market tried to break the 50 level, but sellers were outpacing buyers. We need to be really careful to play this level cause a breakout can be violent with target :2278

Keep an eye on the FESB for confirmation on the market side to play.

Originally posted at www.77sigmatrading.com