Intraday Market Thoughts

On Euro, Apple & PMIs

by Ashraf Laidi
Oct 26, 2012 17:27

We can see the DOJI candle on the daily EURUSD chart. Doji candles are bullish especially when formed at the end of a declining leg. 3 days after the Troika gave 2 extra years to Greece to meet its 3% Debt/GDP target, the IMF Mission to Spain gave a thumbs up in its preliminary report regarding reforming the financial sector and the meetings of in the Memorandum of Understanding agreed with the EU. Apple stock drops below the $600 level for the first time since July and looks bound towards its 200-DMA (587) for the first time in 362 days. Next week will see those PMI figures from the Eurozone, UK & US as well as the all important US jobs report. Both EURUSD from this weeks Premium Insights are filled, with USDJPY, 1 of 2 CADJPY also filled and AUDUSD hitting all targets. 1 of 2 EURGBP was stopped out. We added 4 charts on EURUSD and gold to dissect the technical complexities for gold (daily and weekly sochastics and MA confluence) as well as euros intermediate trendline and its shifting behavior relative disappointing IFO & PMIs. For direct access to these Premium trades, please click here: Non subscribers, can click on here to join:


Latest IMTs