Archived IMT (2008.12.10)

EURUSD DAILY. My mid-day note to CMC Clients stated "EURUSD is more than capable to have another attempt above and beyond the figure and onto $1.3040s. The trend line support of $1.280 remains increasingly underpinned". The $1.3040 was broken but not the key $1.3080, which is vulnerable to a breach towards $1.3250 (risk appetite) on better than expected US retail sales and a positive outcome from Capitol Hill. Meanwhile, 1.31 to remain considerable obstacle.