Archived IMT (2009.01.20)

Euro's breach below $1.30 for the first time in 5 weeks as European FX are stirred in the turmoil of deepening UK banking losses and intra-Eurozone structural deficiencies (Spain's credit downgrade and widening bond spreads between Mediterranean nations and the Big 2. EURUSD runs the risk of calling up $1.27, which is the TL support along the bearish wedge from the Nov lows and the core of the consolidative range prevailing. . . You must be a subscriber of Intraday Market Thoughts to read rest of content.