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Intraday Thoughts – November 20, 2008

Premium Market Reports by FXTechStrategy

Intraday Thoughts – November 20, 2008
Thursday, November 20th, 2008 @ 3:07 am by Mark De La Paz

Still waiting for an Asian follow through off the US risk aversion trade but with hourly oscillators just coming out of oversold levels for the dollar pairs and yen crosses we could be in for a bit more wait until even lower time frames get sorted out with broad selling signals. It is not as if we do not have the necessary impetus for more risk averse trades out of Asia as equity indices in the region took a nose dive following wall streets drop. For now we are caught in the middle of a sideways trade waiting to either push through the post New York lows to signal a second round of risk aversion or hit some decent 23.6 and 38.2 Fib pullbacks from the New York highs for speculative risk aversion entries.

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