Archived IMT (2011.03.16)
Just as risk appetite used to take over at the expense of USD and JPY against major currencies, fear has gripped the markets, prompting the major averages well below the 55-day MAs, calling the next targets at 11480 and 1230 for Dow-30 and SP500 respectively. The latest targets from todays earlier IMTs and Twitter entries have been hit, 0.9770 in AUDUSD, 1.3870 in EURUSD and 0.9080s in USDCHF. With further risk aversion seen into weeks end (and not always necessarily at the session in hand), traders ought to wait for the intraday retracements (such as 30 and 40 pips bounces in AUDUSD, USDCHF and GBPUSD) to trigger fresh shorts. Note how shorting USDCHF continues to become an effective partial hedge for the long USD trade. And as I argued in my latest article (see here http://bit.ly/hzMCKX ) EURUSD remains supported at 1.3860-70s for on-the-dip entries into 1.3930-50s. THESE IMTs will become paid of a PREMIUM SECTION in AshrafLaidi.com starting from April. There will be a paid and non-paid section.
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