Intraday Market Thoughts

Archived IMT (2009.07.24)

by Ashraf Laidi
Jul 24, 2009 17:27

Will EURUSD, GBPUSD, AUDUSD and NZDUSD end NY trading at fresh session lows, or at least near the lows of Thursdays sessionas has been the case over the last few days? Stocks are off their session lows as NY goes to lunch. Thus any protracted selling in equities could accelerate the retreat in these pairs. Biggest decliner vs JPY remains GBP, which has fallen off 200 pips from its trend line resistance of 157. 154.75 stands as the next target. Oil and CAD remain the high profile gainers tests above the low from June 23 of 67.30, facing the 68.50s--61.8% retracement of the decline from the June 30 high.


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