Intraday Market Thoughts

Archived IMT (2009.03.19)

by Ashraf Laidi
Mar 19, 2009 14:42

Dollar damage intensifies as key targets in oil and USDJPY at hit (50.80 and 93.80). Todays Hot-Chart lays out the outlook for oil. US stocks pare their losses, further supporting the equity-positive, USD-negative theme. Momentum traders are now joining the fray, adding to the trend. Cable has yet to rest $1.4680, while EURUSD key target stands at $1.3855. Gold is now up $80 from yesterdays lows after respecting the $888 TL support. Readers of IMT recall yesterday's signal on JP Morgan (leader of finacials when stocks were still down) at $24, alerting advances towards the $28 target.


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