Intraday Market Thoughts

Archived IMT (2010.08.13)

by Ashraf Laidi
Aug 13, 2010 16:30

EUR BROADENING LOSSES, with USD accumulating the bulk of FX gains as JPY takes a backseat. ALL LEVELS IN THESE FOUR CHARTS have been breached, with EURUSD vulnerable to a weekly close below 1.2770 (also 100-day MA) and GOLD vs. EUR further building on its WEEKLY GAPUP, which is a bullish sign for the metal across all other currencies. Equity markets may show modest moves in and out of positive territory but, but FX markets are strengthening the case against EUR. EURGBP FINALLY breaks 0.82, confirming my medium term target of 0.8120, with upside capped at 0.8260.


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