Intraday Market Thoughts

Archived IMT (2010.11.02)

by Ashraf Laidi
Nov 2, 2010 15:10

IT HAS BEEN 2 TUESDAYS since the PBOC raised rates, which led to some notable declines in equities and pullbacks in EURUSD. But readers Twitter followers were warned instead that would ONLY be the beginning of a 2-week consolidation in EUR until the FOMC meeting and that the range would be between $1.37 and $1.4050. Please have a look at these IMTs from Oct 19-20 (th from bottom) reiterating the upcoming consolidation.


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