Archived IMT (2010.02.17)
As questions grow escalate regarding the euro bounce, we remind you of the 10-week channel imposing at $1.3915 http://chart.ly/ncyrtt as well as the clear and present uncertainty with Greece (solutions have yet to be provided). The absence of Asian markets due to Chinese New Year cannot be ignored during these FX retracements. Similar pattern occurred in the yen (selling) in the first trading day of Jan 2010 when Japanese markets were still in vacation. See prev IMT regarding GBPUSD. USDX failed at the 200-wk MA of 80.44. Look for 79.18 in next support. Catch Ashra on "Tom Keane on the Economy" Wednesday Bloomberg Radio/TV 8:30-8:55 am EST. Ashraf also speaking at the IB Times FX Conference in downtown Manhattah (Emassy Suites) 11:15 EST http://bit.ly/cWa1F8
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