The Advisor Weblog |
| Posted: 16 Sep 2009 05:03 AM PDT Take a look at this 4 hours charts: pair remains clearly bearish, despite the extreme readings in bigger time frames. 20 SMA strongly bearish momentum cutting the 100 line, CCI strongly down. Nothing suggest a bottom is near, or a trend change. Under 90.00, expect the pair to extend the fall, with next supports at 89.65 and 89.20 zone. Resistances from actual price lie at 90.60, 91.10 and 91.35, not seen today.
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| Posted: 16 Sep 2009 04:34 AM PDT Gbp/Usd is fighting with 1.6520 static level, helped by general dollar bearish sentiment. 4 hours charts look sligltly bullish with the 200 EMA capping the downside for now; a candle opening under that level, will confirm further losses, while above 1.6550 pair could gain some upside momentum. 20 SMA with a bearish slope, should keep the upside limited. Above mentioned 1.6550, 1.6600 is next resistance level to consider. Supports lie at 1.6480 1.6440 and the 1.6400 zone.
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| Posted: 16 Sep 2009 03:54 AM PDT Here is majors sentiment for today: Eur/Usd: Bullish Gbp/Usd: Bearish Usd/Chf: Bearish Usd/Jpy: Bearish Eur/Gbp: Bullish
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| Posted: 16 Sep 2009 03:44 AM PDT Hi everybody and welcome back! Time to forget about stocks: now forex market belongs to gold, that reached $ 1020/oz, and seems to have finally consolidate above 1.000. As commented yesterday, bulls are determined to win the battle there, and poor greenback is paying the price. Except against Gbp, dollar lost ground since Asian opening against all rivals, and Euro finally reached the 1.4720 zone, retreating partially from there, still strong. Japan’s incoming Finance Minister Fujii says current forex moves are not rapid, that he is opposed to forex intervention if forex moves gradual, and in fact a strong yen has merits for the Japanese economy, sending USD/JPY to test the 90.00 level, and seems hard the pair don’t reach the 87.10 lows in the next weeks. AUD, NZD, CAD, CHF, are all at yearly highs, or close to against greenback, and no pair has any sign of correcting or changing bias. Gbp has been left alone, and hovers around 1.6500, unable to regain ground for now, yet if dollar keeps falling, Gbp of course will be benefit. Anyway, here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ 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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