Intraday Market Thoughts

Archived IMT (2010.09.07)

by Ashraf Laidi
Sep 7, 2010 13:34

YEN STILL DOING IT as the mere sign of profit-taking in global bourses, sends yen crosses falling across the board. AUDJPY proved once again unable to break the trendline resistance of 77.70s, extending from the June 21 high. And with AUDJPY Daily stochastics showing a negative cross-over, prelim downside target stands at 75.80. EURJPY breaks well below its own trendline, takoing out prev IMT target now eyeing 106.30. GBPUSD breaks $1.5340, eyeing $1.5265. AUDCAD HotChart seen capped at 0.9525-30 w/ CAD downside limited ahead of tomorrows BoC decision.


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