Intraday Market Thoughts

Archived IMT (2010.03.15)

by Ashraf Laidi
Mar 15, 2010 10:40

REGARDLESS OF THE FUNDAMENTAL catalysts headlined in the media, EURUSD cannot break above the top of the 4-month channel of $1.3810-20 and USDX continues to hold above the 79.30 support as indicated repetitively on Friday GBP is WEAKEST CURRENCY of the day after dovish comments from BoEs Kate Barker indicating the possibility of another negative quarterly GDP in the UK dragged down GBP across the board. GBPUSD 4-hour chart eyes interim support at $1.4990. We can see $1.4920 later in the week as we continue to expect tomorrows FOMC decision to be positive for the US currency.


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