Intraday Market Thoughts

Archived IMT (2010.05.24)

by Ashraf Laidi
May 24, 2010 7:12

EURUSD UNABLE TO RECOVER the $1.2620 trendline resistance from May 2 thru May 10 after Spains central bank seized savings bank CajaSur, which lost EUR 426 mln in revenues last year. The bank has 486 branches but represents 0.6% of the nations banking assets. EUR is vulnerable to $1.2460, while any renewed deterioration in risk assets risks calling up $1.2420. Upside capped at $1.2590. Register for ASHRAF's SINGAPORE EVENT ON TUESDAY


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