Intraday Market Thoughts
Archived IMT (2009.02.25)
by
Feb 25, 2009 18:51
EURUSD traders aware of Friday's release of Eurozone CPI expected to confirm advanced estimates for a 1.1% annual CPI, following a 1.6% reading, which supports at least 75-bps in rate cuts in the next 3 months. But from a technical perspective, EURUSD is propped by combination of bullish stochastics and stabilized consolidation suggesting the next leg up to test last weeks $1.2950, followed by $1.3020.
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