Intraday Market Thoughts

Archived IMT (2010.02.17)

by Ashraf Laidi
Feb 17, 2010 15:58

USD extends recovery on stronger than expected US housing starts & Indus production. IMT subscribers received this EURUSD chart indicating the $1.3848 resistance, which capped EURUSD at $1.3789 before sending it +150 pips lower. Philadelphia Feds Plosser to speak at 12:45 EST (1745 GMT) before the minutes of the Jan FOMC meeting are out, which will shed light on the reasons Kansas Feds Hoenig dissented with the Committees view about keeping rates too low for a considerable period of time. EURUSD 4-hr eyes $1.3630 trend line support, a break of which to leads us to $1.3590.


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