Archived IMT (2010.12.06)
EURO BEARISHNESS REMAINS as EURUSD fails to regain the $1.3440s mentioned in Fridays CNBC interview (view here http://bit.ly/hjjlZB ), which was required to pave way for prolonged gains. $1.3440s represented the 55-week MA, which I noted to have been an essential landmark after the Nov 23 break. ALTHOUGH THE USD INDEX DID CLOSE the week below its 200-week MA of 79.67, it did NOT close the week below its Nov 4 trendline support of 79.05. The fact that the markets have quickly returned to Eurozone concerns (IMF insistence for EU to augment its EUR 750 bln rescue fund, inevitability of renewed ECB bond purchase and Tuesdays Irish Budget vote). $1.3210 appears next short term target as long as $1.3330 is avoided. While EURCHF is taking a fresh battering, while USDCHF makes a valiant recovery after bouncing off the 0.9725 low. Although USDCHF trendline support stands at the lower level of 0.9690s, we need to closely monitor the upmove of the last 12 hours, which may suggest an extension towards 0.9930.
Latest IMTs
-
محتوى بوصلة السوق من العائد الى الذهب و الناسداك
by Ashraf Laidi | Mar 20, 2024 12:42
-
BTC Needs Powell Correction بيتكوين بحاجة الى تصحيح
by Ashraf Laidi | Mar 18, 2024 17:20
-
Not once, twice, but six ستة مرات ليس صدفة
by Ashraf Laidi | Mar 13, 2024 10:07
-
Finding 88K Bitcoin كيفية الوصول الى
by Ashraf Laidi | Mar 4, 2024 12:21
-
شراء بيتكوين وصل الى عشر أضعاف الإنتاج
by Ashraf Laidi | Feb 29, 2024 9:17