Friday, November 13, 2009

The Advisor Weblog

The Advisor Weblog

Dollar back up

Posted: 13 Nov 2009 06:38 AM PST

Dollar is back up as Wall Street opened to the downside after Trade Balance data. Beware of gold, is barely a few cents above yesterday’s low, and could also be an interesting trigger for dollar rally to extend.  

Hourly perspective pre American opening

Posted: 13 Nov 2009 06:26 AM PST

Gbp/Usd technical points

Posted: 13 Nov 2009 04:55 AM PST

Slow session waiting for U.S. data, 4 hours charts show GBP/USD needs some downside correction at this point, despite the clear bullish trend. Under 1.6650 area, pair should approach to next support, 1.6610. there we couls see some definitions: a rebound will mean a healthy upside trend, while a quick break lower, will likely send the pair to the 1.6550 zone. Resistances today lie at 1.6700 1.6740 and 1.6790.

  

Best pair to trade now: EUR/USD

Posted: 13 Nov 2009 04:38 AM PST

I’m sticking to Euro, as I’m not seen clearly any other cross today to be honest. Here is my choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2009-11-13.html

Eur/Usd technical perspective

Posted: 13 Nov 2009 02:53 AM PST

Euro has corrected to reach levels barely above the 38.2% of yesterday’s rally, and turned slightly bearish in the hourly chart, now waiting for more cues to decide where to. 4 hours charts show pair remains under 20 SMA while in this hourly one, despite above, the red 20 SMA still holds a clear bearish slope, favoring the downside. Supports today lie at 1.4850, and the 1.4810 zone; if this last give up, pair should resume downtrend with next support at 1.4750 area. Another attempt to move above 1.4900, will find resistances at 1.4920, 1.4950 and finally 1.4980 zone.

 

Majors’s sentiment for today

Posted: 13 Nov 2009 02:28 AM PST

Here is majors’s sentiment for today:

Eur/Usd: Slightly Bearish

Gbp/Usd: Bullish

Usd/Chf: Slightly Bullish

Usd/Jpy: Bearish

Eur/Gbp: Bearish

Starting the day

Posted: 13 Nov 2009 02:26 AM PST

Hi and welcome back! As expected yesterday at the Daily Wrap Up Webinar, majors correct against greenback, each on it’s own strength. While Gbp rose comfortably, Euro and Chf corrections are slightly smaller, while Japanese yen returned under 90.00 to the range. Early data in Europe, showed German preliminary GDP come out better than previous month, that was also corrected to the upside, giving European recovery some air; a small improvement for the Q3 in GDP was also published both in France and Italy, giving Euro support enough to spike to the 1.4900 area, before retreating to current levels. Anyway, we have U.S. Trade Balance later, and I believe that report will defy intraday and who knows? maybe even next weeks trend. Here is the link for today’s calendar:

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

Have a great day!
Posted by at 5:06 PM

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