Archived IMT (2010.01.15)

EURUSD gives in to fresh selling momentum after its prominent failure to regain the necessary $1.4580 figure needed to re-establish the uptrend. The combination of a veiled warning from JC Trichet to Greek finances and rumours of Chancellor Merkel resignation were the fundamental catalysts to the selling momentum. EURUSD weekly is now entering a potentially bearish flag and the next target stands at 1.4310. USD closely following JPY in the race of the days outperformers amid reduced risk aversion resulting from Merkel rumours & cautiouness ahead of JPM earnings (which turned out to beat earnings and missed revenues). CADJPY HotChart is in the green

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