Intraday Market Thoughts

Archived IMT (2009.04.21)

by Ashraf Laidi
Apr 21, 2009 12:37

FTSE-100 hourly indicates a Head&Shoulder formation in with a resistance (right shoulder) at 4,050, and a preliminary target of 3,875 from current 3,950. See today's Hot-Chart for details. Tomorrow's twin release of UK Budget, Thursday's CBI survey and Fridays retail sales and Q1 carry major event risk for GBP and FTSE-100. GBPUSD resistance stands robust at $1.4670 with target at $1.44 and $1.4360. BoC rate decision at 13:00 GMT will be key. US Tsys Geithner to speak at 14:00 GMT


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