Intraday Market Thoughts
Archived IMT (2010.11.29)
Nov 29, 2010 15:40
ASIDE FROM THE EURUSD testing $1.3100, which is the 50% retracement of the rally from the June low (still eyeing $1.27), EURGBP shorts are now catching up w/ other EURO CROSSES, testing the 0.84 support61.8% retracement of the rally from the June low to the Oct high (0.894). 0.84 looks like will become the next focal point, but medium term objective remains at the trendline support of 0.8340, followed by 0.8260. You have seen the Nov 14 article charting the MONTHLY & WEEKLY charts on EURGBP http://bit.ly/bg1Cvj calling for 0.8370 and 0.8150.
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