Intraday Market Thoughts

Archived IMT (2008.12.17)

by Ashraf Laidi
Dec 17, 2008 15:29

EURUSD shows the currency on its way to mount the biggest weekly gain (6% week-to-date), breaching the 5-month trend line resistance and breaking out of $1.42--50% retracement of the decline from the record high to the years low, as well as the 200-week moving average. Key target now stands at $1.4640, which is the 61.8% retracement of the said move and the previous support from December 2007.


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