Intraday Market Thoughts

Archived IMT (2009.07.22)

by Ashraf Laidi
Jul 22, 2009 15:51

Slight improvement in appetite was accompanied a bounce in US crude oil (Sep contract) towards $64.80s but KEEP A VIGILANT EYE ON the 64.90 resistance in the 4-hour chart , a break above which to induce fresh selling in USD and in JPY. A break below 63.80 to trigger prolonged JPY bullishness. For now, USDJPY resistance at 93.90 trend line from Jul 20 high, while EURUSD reached our $1.4150 target from yesterdays tweets but remains capped at $1.4220. 10 yr yields back below 3.49%, Dow -14 pts.


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