The Advisor Weblog

Hourly perspective for U.S. session
EUR/USD midterm perspective
Majors’s sentiment for today
Starting the day

Hourly perspective for U.S. session

Posted: 22 Sep 2009 06:37 AM PDT

You can check the hourly perspective for majors following this link:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-09-22.v02.html

EUR/USD midterm perspective

Posted: 22 Sep 2009 05:13 AM PDT

EUR/USD keeps pushing higher, and having reached this 1.4800 level, seems pretty overbought, yet still no signs of reversal here. We have two main targets to watch from current level to the upside: first one is 1.4867, past Septemeber 2008 highs. Above that, 1.4970 area is next resistance to consider, ahead of the 1.5250 level. Yet with weekly charts also overbought, we are approaching to a big downside corrective movement here. First support to consider will be the 61.8% retracement of the monthly fall, now at 1.4620 area, followed by the 1.4410/40 area. Clear break under that could send the pair around 1.4100 where we have 20 SMA along with the 50% of the same rally, and a good number of weekly highs and lows. Seems a bit too late to mount in the bullish rally, yet a bit to early also to talk about a reversal. Watch the levels!

Majors’s sentiment for today

Posted: 22 Sep 2009 04:47 AM PDT

Here is majors sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Slightly Bullish

Usd/Chf: Bearish

Usd/Jpy: Slightly Bearish

Eur/Gbp: Bullish

Starting the day

Posted: 22 Sep 2009 04:20 AM PDT

Hi everybody and welcome back! Dollar corrective movement last just one slow Monday, and here we are, back to yearly highs in Euro, Swissy and commodity currencies. Gold is back around $ 1016/oz, and as commented on the daily Wrap Up Webinar, buyers are defending the 1000 level pretty well, with no much chances of a downside correction there at least for now. Despite Asian markets remain mostly on holidays, stocks in Europe, and U.S. futures are strongly up, close also to the year highs. Risk appetite is in full shape these days, wonder how long will it last. We have FOMC decision tomorrow, and from a technical perspective, we are close to a reversal in those majors. Could this be the trigger? Anyway, Gbp and Jpy remain more quiet, slightly up against greenback, driven but market sentiment and not own strength. Not much news today, we will again depend on stocks and gold to find market direction.Here is the link for today's calendar:

http://www.fxstreet.com/fundamental/economic-calendar/

Have a great day!