Intraday Market Thoughts

Archived IMT (2010.06.02)

by Ashraf Laidi
Jun 2, 2010 6:41

EURCHF draws near to 1.41, retracing more than 75% of the May 19 SNB intervention. Traders are aware of the 1.40 support (point of intervention), which suggests they will retest 1.4050s before drawing closer to 1.40.

EURNOK breaks below May 17 trend line support after failing to hold

7.95 consolidation, eyeing 7.885, followed by 7.82. 8.02 remains interim ceiling. GBP is the DAYs BEST PERFORMER, but UK data ahead could impact the currency. See calendar for detail GBPUSD eyes 1.4820s, while CRASHING EURGBP eyes medium term target 0.81555-50% retracement of the low from Jan 2007 to the high of Jan 2009.


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