Intraday Market Thoughts

Archived IMT (2010.02.17)

by Ashraf Laidi
Feb 17, 2010 23:40

The broken 5-day trendline support in $EURUSD likely to be become resistance near 1.3640s, which is especially enforced when adding the trend line resistance on the 4-hr chart. Our MED-TERM GOLD BEARISHNESS has been vindicated by todays IMF announcement that it would sell its remaining 191.3 tonnes of gold under a program launched last year to raise new resources for lending. Gold dropped $18 to 1105. Still sticking w/ 1020 target. Bank of Canadas Jan CPI could regain 1.9% from 1.5% y/y, but any negative risk environment may cap CADJPY at 87.70s before retreat towards 86.40s. ASHRAF's BOOK "Currency Trading & Intermarket Analysis" hits #7 rank in Amazon's OVERALL FINANCE category, right besides Mohammed ElErian's "When Markets Collide". Thank you all who got a copy !


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