Archived IMT (2009.11.19)

And once again oil fails to break 80.30, resuming the 4-week downtrend as the S&P500 fails to break above 1,120. GBPUSD faces next support at 1.6570 after failing the 1.6880, while EURGBPY is seen capped at 0.8975. EURCHF hit a high of 1.5149 after we warned of a boost from 1.5085. We expect renewed buying to test 1.5170. YEN STRENGTH IS GOING NOWHERE and is here to stay (see last weeks article). CADJPY seen targeting 82.85, EURJPY eyes 131.20.