Intraday Market Thoughts

Archived IMT (2010.01.20)

by Ashraf Laidi
Jan 20, 2010 8:42

One day after we warned on the DEAD CROSS in the EURUSD confirming our bearishness from the Jan 5 article, EURUSD drops a full cent to $1.4196. Now the GOLDEN CROSS in the USD Index is in the process of forming as the 50-day MA (76.42) approaches the 100-day MA (76.43). A positive cross-over at the close today would be an important bullish signal as it paves the way for 78.20. CADJPY HotCharty deepens below 88 to 87.60. Expect a bounce to 87.90s before a retest of 87.30 and ultimately. Weekly CADJPY still eyes 86.60s as per the HotChart accessed here


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