Intraday Market Thoughts

Archived IMT (2008.11.19)

by Ashraf Laidi
Nov 19, 2008 17:00

Dollar sell-off stabilizes as stock market volatility remains sharp and rapid. GBPUSD gave in at the $1.5275 resistance--trend line extending from the Nov 3 high. Support climbs towards $1.5050 . EURUSD broke out of its consolidation, but failed to fully regain $1.28 resistance-- TL extending from the Nov 10-13 highs. Bigger than expected builds in oil inventories also contributed to dollar's rebound and the pullback in oil and gold.


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