Intraday Market Thoughts

Archived IMT (2009.09.24)

by Ashraf Laidi
Sep 24, 2009 17:05

364 DAYS LATER, 140 YRS LATER. We warned our twitter followers yesterday (about 2 hours before the FOMC decision) that Euro's top at $1.4844 had emerged 364 days after the $1.4864 high reached on Sep 22, 2008, with the implications that fresh EUR loses (USD bounce could emerge). Today, EURUSD lost full cent and GBPUSD lost 350 pips. TODAY MARKS THE 140 YEAR ANNIVERSARY of Black Friday 1869, when a crash in the price of Gold Crash was accompanied by falling stocks during the American Civil War. 1.4590 remains next major target. SNB intervened after EURCHF broke below its 200-day MA.


Latest IMTs