Thursday, November 12, 2009

The Advisor Weblog

The Advisor Weblog

Gold with corrective signs

Posted: 12 Nov 2009 08:48 AM PST

Gold seems to be finally ready for a corrective movement, as 4 hours indicators point for that: trend is losing momentum, while the metal lost nearly 13 dollars from the high; next key support level comes at the 1097 area. Gold fall support furhter dollar gains. EUR/USD next key level to watch is 1.4810.

 

Dollar extend the rally

Posted: 12 Nov 2009 07:36 AM PST

Dollar continues slowly by firmly regaining ground against major rivals, with EUR/USD at the 1.4860 zone ( should hold at least temporally around here), GBP/USD unchanged at the 1.6550 area, and USD/JPY shocking us all, moving more than 10 pips per day, around 90.50 ( top today likely between 90.60/70 zone). Stocks in the U.S. are barely red, yet oil and gold are losing ground, giving a it more impulse to greenback.

Majors’s hourly perspective

Posted: 12 Nov 2009 05:34 AM PST

Here is the hourly perspective for majors, for the American session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-11-12.html

U.S. data halt dollar rally

Posted: 12 Nov 2009 05:33 AM PST

Better than expected U.S. unemployment data, showing unemployment clains fell y 12K to 502K. halted dollar rally, sending stocks slightly up, at a first reaction. Let’s see if it holds.

USD/JPY  is above 90.00 after ranging in 50 pips for two full days. We need a clear break aove 90.30 to confirm furhter rises there.

Cad and Aud falling

Posted: 12 Nov 2009 04:28 AM PST

Both commodity currencies are giving up some ground as so are doing oil and gold. Watch them, they are leading the way.

Dollar is moving higher, still not clear definitions yet seems we are going to have a greenback day, at least corrective after such strong falls.

Best pair to trade now: EUR/USD

Posted: 12 Nov 2009 04:17 AM PST

Gbp/Usd levels to watch

Posted: 12 Nov 2009 03:55 AM PST

Just above 1.6550 support area, pair has a strong congestion zone between 1.6480/1.6510, that has been halting downside rallies, and we also have the 20 SMA in the daily chart there, so seems it won’t be an easy level to break; yet a clear confirmation under it, should send the pair to the 1.6430 area, next key support zone to consider. Resistances from current price, are at 1.6580, 1.6620 and the 1.6660 zone.

 

Eur/Usd technical points

Posted: 12 Nov 2009 03:09 AM PST

Watching the daily chart, seems EUR/USD is forming a probable double roof at the 1.5050/60 area, yet neck line is quite far away from current price to confrim the figure. However, in the long term perspective, and being at the top of an ascendant trend, break of that neck will signal not only further falls, fut could confirm a trend reversal. Neck line, is around 1.4620, so watch for that level, if reached before a new high (that will deny the formation of course).

 

Turning to what matters today, 4 hours charts show bearish indicators and price well under 20 SMA, that lost the bullish slope. 1.4910, 55 EMA is our first support for today, followed by static 1.4860 area. Resistances come at 1.4980, 1.5020 and the 1.5050/60 zone.

 

Majors’s sentiment for today

Posted: 12 Nov 2009 02:41 AM PST

Here is majors’s sentiment for today:

Eur/Usd: Slightly Bearish

Gbp/Usd: Bearish

Usd/Chf: Slightly Bullish

Usd/Jpy: Neutral

Eur/Gbp: Neutral

Starting the day

Posted: 12 Nov 2009 02:30 AM PST

Hi everyone, and welcome back. Dollar fall in early Asia as stronger-than-expected Australian jobs data for October encouraged investors to buy riskier assets, including gold that rose to the 1120 level. Yet the downside turn in stocks halted greenback bearish rally, and the currency extend yesterday’s recovery in early European session: both Euro and Gbp had printed lower lows, and remain slightly bearish at this point. First data of the day, euro zone industrial production, come under expectations at 0.3%, another negative report for Europe. Also, U.S. Treasury Secretary Timothy Geithner reiterated U.S. support for a strong dollar, yet recon it will take some time to bring unemployment down.

 Anyway, we have some news to take care of, let’s see if dollar can extend the rally trough next levels, triggering more profit taking among not so confident investors. Here is the link for today's calendar:

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

Have a great day!
Posted by at 5:24 PM

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)