Archived IMT (2010.03.24)
EURUSD finally breaks below $1.35 over two consecutive sessions (US and Asia) for the first time since May 2009. CONGESTION STANDS between $1.3415 and $1.3465, with the former being the 61.8% retracement of the 1.2442-1.5129 rally, and the latter (more relevant support) being the 76.4% retracement of the 1.2885-1.5129 rally. Bottom line, traders will eye $1.34 as the next major foundation, before $1.3120. THE USD INDEX is POINTS AWAY FROM A GOLDEN CROSS FORMATION, whereby the 100-day MA 77.92 is to cross above the 200-day MA (78.07) for the first time since July 2009. Recall we ALERTED READERS back on Jan 19 http://bit.ly/8EZTO8 of the DEAD CROSS formation in EURUSD (50-day MA falling below the 100-day MA) 18 hours before it occurred, which triggered a 230pip decline the next day. Much is being said about rumours of an IMF-led deal for Greece, but the technicals suggest any bounce will be short-lived. UK BUGET ANNOUNCEMENT will seek to balance between announcing a reduction in the deficit with a combination of spending cuts and tax hikes (probably in capital gains), which will raise the question as to whether the BoE will be forced into prolonged QE.
Another Japanese Recession?
by Adam Button | Feb 17, 2020 12:47
Bazooka or Nuclear Stimulus
by Adam Button | Feb 14, 2020 10:35
Look Here Before Jumping in
by Ashraf Laidi | Feb 13, 2020 16:38
Bears Lack Follow Through
by Ashraf Laidi | Feb 13, 2020 14:31
ندوتي مع أكس تي بي يوم الإثنين
by Ashraf Laidi | Feb 12, 2020 15:33