Intraday Market Thoughts

Archived IMT (2010.07.27)

by Ashraf Laidi
Jul 27, 2010 11:32

UK July CBI Shot up to a 3-year high at +33 from -5.0 vs. expectations of 0.0, lifting cable back to $1.55 & dragging EURGBP below 0.84. A breach above 1.5520 is likely to extend gains towards 1.5570-80. EURGBP 4-hr stochastics showing negative cross-lover, suggesting 0.8330 to loom large. CADJPY sharply recovered following the Wall St rally, eyeing 85 resistance, while USDCAD looks for the 1.0270 support. FTSE-100 hits a 6-week high near 5,400, breaking above its 100-day MA after having broken its 200-day MA yesterday for the 1st time since mid May. AUDUSD breaks above its 200-day MA, testing the 0.9070 trendline resistance from the April high. More on Aussie CPI later in the day.


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