Tuesday, November 24, 2009

The Advisor Weblog

The Advisor Weblog

Gold and stocks down

Posted: 24 Nov 2009 06:55 AM PST

Gold and stocks are down, dollar and yen are up, still in ranges. Here is the the hourly updated perspective for American session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-11-24.html

Live coverage starting in 10 minutes

Posted: 24 Nov 2009 05:01 AM PST

I’m about to start the U.S. GDP Live coverage at the Fxstreet.com home page. Join my there and we can discuss market reactions and levels and trends for majors.

See you there!

Best pair to trade now: USD/CHF

Posted: 24 Nov 2009 04:59 AM PST

Gbp/Usd testing 20 SMA in 4 hours charts

Posted: 24 Nov 2009 04:36 AM PST

Back to 1.6580, Pound is testing bearish 20 SMA in the 4 hours charts; usually acting as dynamic resistance/support, we should see some downside movement from here, and the extension of if will be key: if holds above 1.6550, pair could extend the upside, while if moves under that level with some acceleration, 1.6520 and 1.6480 are next support and probable target zones for the pair. Resistances from here come at 1.6610, 1.6660 and the 1.6700  zone.

 

EUR/USD still in range

Posted: 24 Nov 2009 04:23 AM PST

Despite slightly bullish after indicators were unable to extend lower and are back pointing up, EUR/USD is still inside past week trading range, capped by 1.5000/20 area. Strong rebound from 1.4880 area also suggest the downside will remain limited. A clear break above that 1.5020 level should send the pair to test the yearly high at 1.5062, and above, the 1.5100 level, something i don’t see clearly at this point. Yet if stocks and gold keep  rising so strongly, seems we are going there. To the downside, supports lie at 1.4930, 1.4880 and 1.4840/50 zone.

 

Majors’ sentiment for today

Posted: 24 Nov 2009 03:12 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Slightly Bullish

Gbp/Usd: Bullish

Usd/Chf: Neutral

Usd/Jpy: Neutral

Eur/Gbp:  Bullish

Starting the day

Posted: 24 Nov 2009 03:10 AM PST

Hi everyone, welcome back! Tough day yesterday with my Internet connection, I gave up posting, because it was driving me nuts! Another advantage of living in the third world.. Anyway! as comment during past Asian session Live Wrap up webinar, and several times along these days gold keeps pushing higher and seems to be the main reason greenback is unable to extend the downside correction. EUR/USD failed again to break above 1.5000 and that should be a bit discouraging for bulls, while GBP/USD finally break lower as I was expecting yesterday, and while capped under 1.6660, still bearish. Majors are quiet now, probably waiting for U.S. GDP expected around 3.0% for this quarter, from a previous upside surprise reading of 3.5%. We need a really different reading there, to see a market reaction. Either strongly above that 3.5% or under 2.7% could trigger some market reaction I do believe. I will be covering it Live! at Fxstreet.com home page. Here is the link for today's calendar:

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

Have a great day!
Posted by at 5:42 PM

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