The Advisor Weblog

GBP/USD weekly charts
EUR/USD weekly charts
Majors’s sentiment for today
Starting the day

Posted: 25 Sep 2009 04:34 AM PDT

Same perspective here, Gbp looks much more bearish than Euro, after that weekly reversal candle that failed to break above the 50% retracement of the monthly rally. This week opening under the 20 SMA, was a first warning of a fall coming, as we always talk in the Wrap Up Webinar, Gbp works great with that MA. Pair is now, under the 38.2% of the rally. Weekly close under that 1.6030 area, will suggest pair should resume downtrend. Indicators are strongly bearish also, so let’s see today’s close.

For today, you can see that 4 hours charts are a bit over extended, suggesting some upside corrections, that anyway and till now, had retreat from the Fibo zone (Tks Puru!). Consider resistances for next hours at that area, followed by 1.6060 and 1.6110 neck of the head and shoulders daily figure, broken yesterday. Supports today, lie at 1.5970 and 1.5920 zone. Clearly under that level, 1.5860 is next target ahead of stronger 1.5750.

EUR/USD weekly charts

Posted: 25 Sep 2009 04:21 AM PDT

We have been following this monthly Fibo since long ago. Pair open this week above the 61.8%, confirming in a way, the bullish midterm trend. the level is around 1.4610, and we saw the pair reached that zone both yesterday and today early Asia, and for now, unable to break under. Still we are barely 60 pips away. So a weekly close under that level, and even better under 1.4550 support, will likely deny the upside continuation, while above that level, better above 1.4700, will confirm the upside continuation. Watch the zone, and the weekly close! If we turn to 4 hours charts, pair is slightly bearish, not quite clear, yet pointing to the downside. Supports from current level come at the very close 1.4660 zone, followed by 1.4610. Clear break under will send us to the 1.4550 strong zone, and I can’t see at this point, the pair falling further. To the upside, resistances come at 1.4700, 1.4735 and 1.4780.

Majors’s sentiment for today

Posted: 25 Sep 2009 04:09 AM PDT

Here is majors sentiment for today:

Eur/Usd: Slightly Bearish

Gbp/Usd: Bearish

Usd/Chf: Slightly Bullish

Usd/Jpy: Bearish

Eur/Gbp: Bullish

Starting the day

Posted: 25 Sep 2009 04:05 AM PDT

Hi everyone, welcome back. As we comment yesterday in the daily Wrap Up Webinar, 2 days to the upside don’t made a trend. Dollar remains weak across the board, and despite yesterday’s strong corrective movement, the American currency remains bearish, except as comment also yesterday, against GBP. Yesterday worst than expected Home Sales in the U.S. trigger the correction we saw across the board. However, gold is under $ 1000/oz, flattering with the level, yet still under. U.S. futures are far from year highs, still to the downside, and majors are waiting for Durable Orders in the U.S. No doubts today close will be key, and we are going to watch weekly charts for that, both in EUR and GBP. Anyway, I’m super excited! ITC is very close, and I can’t wait to be there! Hope to see some of you! Here is the link for today’s calendar:

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

Have a great day!