Intraday Market Thoughts

Archived IMT (2010.01.19)

by Ashraf Laidi
Jan 19, 2010 17:17

GBP fails to hold near its $1.6457 high session, retreating back to the $1.6350s as USD strength intensifies across the board despite rallying US stocks. While the EURUSD confirms its downtrend via its Dead Cross (50-day MA falling below 100 day MA), USD Index is close to attaining its own Dead Cross with the 50-100 Max at 10 pts apart. USDJPY holds its 100-day MA to trigger a fresh run-up at 91.00 and paving the way for prolonged gains towards 91.70. But it is CADJPY, AUDJPY and EURJPY which face the greater downside. CAD eyes a retest of 1.0390 ahead of tomorrow's BoC rate decision. THANKS FOR YOUR VOTES EVEYONE. Please state a reason for your vote and please make sure it is a relevant reason to the market alaidi Thanks


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