Intraday Market Thoughts

Archived IMT (2010.11.09)

by Ashraf Laidi
Nov 9, 2010 18:53

USD RUNS THE FX SHOW, rallying against every currency with CAD a close second as SP500 drops 10 pts off its overnight highs (after failing the 61.8% retracement from at 1227-28 from the all time high to the 666 low) . EURCAD extends damage 100 pips from the Short EURCAD HotChart (see prev IMT) nearing 1.3850 prelim target before $1.3570 emerges. GOLD Drops $30 off its 1424 high as USD extends rebound. EURGBP SEEN EXTENDING SELLOFF AHEAD OF tomorrow's BOE INFLATION REPORT. USDJPY seen capped at 81.90. I'm Sticking with the shorts in EURCAD and EURCHF (SEE HOTCHART ) Here's my August 26 IMT on Gold & Silver Seasonals & Why Q4 is Best


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