Intraday Market Thoughts
Archived IMT (2009.03.12)
by
Mar 12, 2009 21:05
BROAD DOLLAR SELLING on the heals of prolonged gains in equities. Today's Hot-Chart on the USD Index cautioned against the peaking of the USDX after failing to break above 89.62, which is the 7-year trend line resistance and the 38% retracement from the 2002 highs. WHAT DOES THIS MEAN FOR USD pairs? GBPUSD eyes further gains towards the $1.4180 target from current $1.3933. AUDUSD seen extending gains towards 0.6620 and EURUSD eyes $1.3020.
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