Intraday Market Thoughts

Archived IMT (2010.09.22)

by Ashraf Laidi
Sep 22, 2010 11:36

AS USD EXTENDS DAMAGE, USDCAD approaches 5-month trendline support at 1.0190 (target called on twitter post-FOMC), a break of which is increasingly viable calling for 1.0125-30. Daily stochastics for this trade as well as GBPCAD remains negative, with the latter (See HOTCHART) eyeing 1.5930 and 1.5780. My followers of twitter witnessed a constant stream of FX calls & analysis in the 90 mins after the FOMC decision. $1.3510-15 remains the latest target for EURUSD, while followers who were flooded with bearish USDCHF calls (especially at the Fri-Sat Paris expo) are now seeing 0.9880 in USDCHF. At this point, CHF longs are likely to develop against GBP. Going back to USDCAD, watch todays leading indicators and retail sales data from Canada,

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