Intraday Market Thoughts

Archived IMT (2008.11.26)

by Ashraf Laidi
Nov 26, 2008 0:15

Despite the Fed's latest acrobatics in quantitaive easing, US stocks barely ended in positive territory, sugesting Asian and European trading could see renewed blow to risk appetite and a necessary pullback before the ThanksGiving Holiday in the US. GBPUSD peaked out at $1.5530, forming a classic reversal candle that could repeat the decline of 24 hrs ago and call up the interim support at $1.5340. Note how YEN CROSSES saw the least gains, thus, vulnerable to renewed damage in Asian/European trade.


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