Intraday Market Thoughts

Euro Consolidates Despite Rumours, New Premium Trades

by Ashraf Laidi
Dec 7, 2011 1:57

Last night, we issued fresh longs in EURUSD as well as risk appetite trades (short USDCAD) despite the noise and panic emerging from S&Ps announcement to place 15 Eurozone nations on negative watch. After a brief pullback, EURUSD ended up consolidating around 1.34. We remain cautious in EURUSD short-term despite remaining long term bearish. Our broadly bullish stance in CAD is paying off against USD and GBP, while our AUDNZD short is playing along nicely after the RBA rate cut. Finally, we offer 2 GOLD CHARTS in the latest Premium Intermarket Insights, with technical and fundamental rationale. DIRECT ACCESS to these Premium Trades is found here Nonsubscribers can get a free 1-week trial here


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