Intraday Market Thoughts

Archived IMT (2009.11.13)

by Ashraf Laidi
Nov 13, 2009 14:47

YEN STRENGTH RE-EMERGES, dragging USD, EUR, GBP across the board, with EURJPY breaking below 133.20s, eyeing 132.65. CADJPY stll eyeing 84.70. GBPUSD testing the 4 hr trend line support, looking for a possible break of $1.66 and onto $1.6580. Watch for oil retesting 76 support,followed by 75.4538% retracement from 65.00 low. USDCAD attempts to rebound above 1.0540 after smaller than expected Canadian trade deficit. USDJPY eyes 89.20. No Chinese yuan revaluation expected before end of Q1 2010, which should have minimal impact on USD.


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