The Advisor Weblog |
- Gbp/Usd under selling pressure: read the rumors
- AUD and CAD leading the way
- Hourly charts technical perspective for majors
- GBP/USD technical points
- Eur/Jpy daily charts
- Usd/Jpy can technicals overcome sentiment?
- Majors’s sentiment for today
- Starting the day
| Gbp/Usd under selling pressure: read the rumors Posted: 07 Sep 2009 08:30 AM PDT Having a quiet market, at least gave me extra time to read news here and there; this is quite important to take into account, if you are a GBP trader: Either cutting rates, or extending QE this Thursday, will no doubts harm Pound. Be careful with long term positions!
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| Posted: 07 Sep 2009 06:58 AM PDT Monday holiday, majors remain in range while U.S. futures are strongly up, supporting dollar and yen falls. However, commodity currencies are leading the way, as the AUD/USD has reach a fresh yearly high at 0.8575 and continues tending higher despite over bought in smaller time frames, as gold quotes at $ 995.00/oz, close to the historical high of $ 1030. Above mentioned high, pair has resistances at 0.8600, and 0.8640; supports in case of some corrective movement lie at 0.8530 and then 0.8500. USD/CAD also remain pretty bearish after breaching key support level now resistance at 1.0770, and continues bearish despite over sold in smaller time frames: next supports lie at 1.0720, 1.0700 and finally the 1.0675 area. Resistances today will come at 1.0770 1.0800 and 1.0840.
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| Hourly charts technical perspective for majors Posted: 07 Sep 2009 06:38 AM PDT Hi! here is the hourly perspective for majors for the next hours: Don’t forget to keep an eye on AUD and CAD as they continue printing fresh intra day highs, pushing dollar down against other majors.
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| Posted: 07 Sep 2009 05:48 AM PDT Pound failed to break the 1.6445 area, an quickly retreat from that level. Quoting around 1.6400, pair is moving in a tight range, mostly due to U.S. holiday that is keeping Wall Street futures steady; 4 hours charts show some bearish chances for next hours, with immediate supports at 1.6360 and 1.6320 zone. Resistances on the other hand, are at 1.6445, followed by 1.6480, and the key 1.6520 level: if above, chances of further upside movements seems more than likely. Anyway, this week we have BOE decisison regarding rates and monetary policy so, seems hard seen some definitions in this pair before Thursday.
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| Posted: 07 Sep 2009 05:36 AM PDT The EUR/JPY seems to be recovering the bullish bias in daily charts, after rebounding on the 61.8% of the Fibonacci rally 127.00/138.70, and starting the week above the weekly ascendant trend line we have been following in the Daily Wrap Up Webinar. Quoting around the daily 100 MA at 133.30, pair needs to move above 134.40, 38.2% of the mentioned rally, to confirm a longer term continuation. For today, consider resistances at 134.00, 134.40 and finally the zone around 135.00; supports will come at 133.00, 132.30 and finally the 131.70 zone.
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| Usd/Jpy can technicals overcome sentiment? Posted: 07 Sep 2009 04:47 AM PDT We now Japanese Yen has been appreciating strongly this year, following risk sentiment mood. Now fighting the 93.00 level back, pair started the week above a 4 hours descendant channel, suggesting some upside continuation; theoretically, that means around 200 pips to the upside, the height of the channel, and a probable retest of the 95.00 level, as long as the pair complete the pullback to the roof of the broken channel, and don’t close the day inside it. As 93.35/45 area has been acting as strong support, maybe a candle opening above that level could help us confirm the movement; next resistances will come at 93.80 and the 94.00 area for today; pullback will be complete at 92.82, so that’s our first support for today, followed by the 95.50 zone and finally 95.20. Let’s see it technicals could overcome sentiment.
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| Posted: 07 Sep 2009 04:26 AM PDT Eur/Usd: Sligthly Bullish Gbp/Usd: Sligthly Bullish Usd/Chf: Slightly Bullish Usd/Jpy: Sligthly Bearish Eur/Gbp: Bearish
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| Posted: 07 Sep 2009 04:22 AM PDT Hi everybody and welcome! Slow Monday, as usual lately, and more due to U.S. and Canada holidays today. European currencies remain slightly bullish, following last Friday’s risk appetite move, also supported by Germany Factory Orders, that rose a 3.5% printing 5 month in a row of growth. European stocks are up, and commodity currencies keep leading the way: Australian dollar, hit a fresh intra year high at 0.8566 as gold prices continue climbing and after breaking above 0.8500 (at this point,seems to stay, for a while); despite gold remains hovering around $ 68.00 a barrel, Canadian dollar quotes at 1.0760, at the key 1.0770 level; confirmations here, will likely send the pair lower, and dollar will get more pressure across the board. Anyway, we have no reports today, and I will covering the News section at Fxstreet.com, so I will be posting the links. Have a great day! I will be one of the key speakers in Barcelona, October. Here is the link if you want to know more about it: http://www.traders-conference.com
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