The Advisor Weblog

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• Hourly majors update
• Gold continues favoring greenback
• Best pair to trade now: new report
• Gbp/Usd after Sales
• Majors’s sentiment for today
• Starting the day

Hourly majors update Posted: 27 Oct 2009 06:38 AM PDT Here is the hourly majors update: http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-10-27.v02.html

Gold continues favoring greenback Posted: 27 Oct 2009 05:17 AM PDT Gold seems ready to break yesterday’s low, barely a few cents away. Watch for an acceleration in the break, and the following dollar rally against high yieldings. Key levels to the downside are 1036.90 and 1031, previous historical high.

Best pair to trade now: new report Posted: 27 Oct 2009 05:01 AM PDT You know i’m not a big friend of giving signals here. Taking trading decisions is something quite personal, and taking signals means you risk to trade something you are not analyzing but someone else. However, I decide to make a new small report, that will include likely entry points for me, for a particular pair per day. Today I choose Eur/Usd; here is the link. Enjoy! http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/

Gbp/Usd after Sales Posted: 27 Oct 2009 04:07 AM PDT Gbp has been quite positive since early opening, and continues to the upside, after October Retail sales volume increase in October to 8 from a previous reading of 3. Yet from a technical point of view, 4 hours charts show pair is being capped by 20 SMA still with a bearish slope, and Pound has no enough strength yet to break to the upside. indicators are quite bullish so, if the pair manages to break the mentioned MA, likely to accelerate to the upside with immediate resistances at 1.6450, 23.6% retracement of the last daily up leg, followed by strong 1.6520 level. Supports from current level come at 1.6410, 1.6365 and 1.6320 zone.

Majors’s sentiment for today Posted: 27 Oct 2009 03:02 AM PDT Here is majors sentiment for today: Eur/Usd: Slightly Bearish Gbp/Usd: Bullish Usd/Chf: Bullish Usd/Jpy: Slightly Bullish Eur/Gbp: Bearish

Starting the day Posted: 27 Oct 2009 02:57 AM PDT Hi everybody and welcome back! As expected, majors corrected during Asia, yet at this point, market is exactly where i left if 8 hours ago, except for Gbp, that recovered the upside and reached the 1.6410 zone. We have reports in the U.K. in an hour or so, so, let’s wait for them before taking any strong decision there. Gold not only break the 1043 level yesterday, but already completed a pullback to that zone suggesting more downside to come. Stocks and U.S. futures remain extremely quiet, probably waiting for more clues coming from fundamentals today. Not quite confirmed, but today’s close could change that, yesterday movement suggest dollar had  finally bottomed against major rivals. If greenback continues rising today, euro could start a nasty come back; also, despite the slump in stocks, Japanese yen failed to rise. That’s because U.S. long-term yields, treasuries, are rising on speculation that the FED is ready to turn to hawkish; and with ECB members making some verbal intervention as the single currency’s strength starts to damage euro-zone recovery prospects, (and Canada, and New Zealand, and U.K., and all we have been discussing in the past two months), no doubts greenback has some strong chances to start at least a big corrective movement. Let’s see how the data come out today and tomorrow, and market reaction to it! Here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!

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