Intraday Market Thoughts
Archived IMT (2009.11.12)
by
Nov 12, 2009 16:56
EURUSD intensifies losses as oil accelerates declines nearing the October lows of 76.60s. Oil inventories showed a build of 1.8 mln brls in crude oil, well above expectations of 1.0 mln barrels. Oil's next key target stands at 75.00. EURUSD set to test 1.4825, which is the right shoulder of reverse Head&Shoulder formation. Only a close below it opens the door for prolonged damage towards $1.4770.
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