Intraday Market Thoughts


by Ashraf Laidi
Oct 22, 2012 17:34

EURGBP tests its 200-DMA for the first time since 11/11/2011. Premium subscribers were warned last week of the multi-week breakout and the ensuing run-up halfway through the multi-year channel. Gold bounces off its 55-DMA (testing for first time in 2 months), while oil attempts to hold above its 200-WMA for the 4th consecutive week. Dow-30 trades below its 55-DMA for the 1st time since July. Look out for Wednesdays release of Oct IFO survey from Germany, whose anticipated improvement will likely boost EUR pairs. The index has a strong record in trigering EUR moves on upside surprises. Both EURUSD Premium trades are in progress. CADJPY hit all targets and so did 1 of 2 GBPUSD, with the other in progress. 1 of 2 EURJPY remaining in progress after missing the final target of 104.20 by 6 pips, while the other remaining unfilled (missed entry by 7 pips). USDJPY and AUDUSD were stopped out. EURGBP in progress. 1 of 2 gold in progress, the other stopped out and silver remaining in progress. US crude oil remains in progress. For direct access to these trades and the technical rationale to that featured EURGBP play and charts, click here: NONsubscribers can join here: - Oct



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