Intraday Market Thoughts

Archived IMT (2009.03.11)

by Ashraf Laidi
Mar 11, 2009 8:23

AUDCHF reaped the 100-pip gain projected in yesterday's HotChart section, which predicted a jump towards 0.7522 from 0.7420. Those who do not have the means to trade AUDCHF could go long AUDUSD and long USDCHF. Gold's sub-$900 break yesterday was nothing to worry about for gold bulls as long as the $880-885 foundation remains intact. Readers of last week's gold Hot-Chart will recall my signalling about gold NOT falling by more than 10% since Nov. Finally i warned in the latest article that more GBP losses to emerge if it FAILS to close above $1.3850 in London trade. The failure led to sharp GBP losses in NY and Asia. More ahead.


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