Friday, November 27, 2009

The Advisor Weblog

The Advisor Weblog

Hourly perspective for majors’

Posted: 27 Nov 2009 06:46 AM PST

Stocks are regaining the upside strongly in America, still far from past Wednesday close, yet pushing dollar and yen lower, yet gold remains under $1160,  not letting the rally extend too much. Here is the hourly perspective for majors:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-11-27.v02.html

Best pair to trade now:AUD/USD

Posted: 27 Nov 2009 05:55 AM PST

GBP/USD technical points

Posted: 27 Nov 2009 05:06 AM PST

Gbp/Usd has fell also at the beginning of Asia, after rumours U.K. will downgrade the GDP for next year strongly, breaking under past week low of 1.6460 and reached the strong zone just above 1.6250, as we comment yesterday at the Wrap up webinar. Now with stocks in positive territory in Europe, pair approaches to that 1.6460 resistance level, supported by indicators, exhausted to the downside in the 4 hours charts; above that level, 1.6520 and 1.6560 are next resistances today,  while from current 1.6400 area, supports lie at 1.6360 area, 1.6310 and mentioned 1.6250 area.

 

Aud/Usd broke first key support

Posted: 27 Nov 2009 04:48 AM PST

As I always told you, Australian dollar being a commodity related currency, usually leads the way.As we comment yesterday at the Live Daily Wrap Up, opening under daily ascendant trend line, was a strong bearish signal, that should target the strong 0.8940 zone, where we have the monthly Fibo, and several lows and bounces since pair overcome the level. As you can see in this chart, pair reached that level, and bounced again to the upside, yet remains close to it, holding around 0.9000. With indicators overextended to the downside, yet still bearish, confirmations under today’s low of 0.8916 should trigger further selling in the pair. Next supports come at 0.8855 area, also quiet strong, and under it 0.8800 level. To the upside, resistances today lie at 0.9035, 0.9080, and 0.9120.

 

EUR/USD testing strong support zone

Posted: 27 Nov 2009 04:10 AM PST

Euro fall halted at a very interesting point: we have not only the daily ascendant trend line coming form early March this year, but also the previous base of the range (range before the break higher) barely above 1.4800/10. Seems a tough area for me really, and won’t be easy to see a break lower. Yet, any confirmation there, supported by more falls in stocks and gold, should send the pair quickly lower, with next supports at 1.4760 area, followed by 1.4710. Resistances today, lie at 1.4930, 1.4970 y 1.5010.

Fighting the 1.4900 area, 4 hours charts remain bearish, and only 200 EMA remains under current price, close to the trend line mentioned above. However, price action will remain as always, highly attached to gold and stocks. Keep an eye there, as last Asian session, news where talking about another “black Friday” and we know, sentiment could move the market big.

 

Majors’ sentiment for today

Posted: 27 Nov 2009 03:53 AM PST

Here is majors’ sentiment for today:

Eur/Usd:  Bearish

Gbp/Usd: Bearish

Usd/Chf: Slightly Bullish

Usd/Jpy: Bearish

Eur/Gbp: Bullish

Starting the day

Posted: 27 Nov 2009 03:50 AM PST

Hi everyone, welcome back! I won’t extend the introduction today, as we have plenty to look at charts. Few minutes before Asia opened, and mostly i believe due to speculation: Yen selling started and accelerate even before Nikkei opening, generating further risk aversion. Gold is down, yet far from the 1137 low, stocks in  Europe are negative but regaining ground quickly and so do American futures. Yet dollar and yen remain strong, so let’s see how close we are to key technical points.

No more news for today, but a minor report in Canada.

Have a great trading day!
Posted by at 5:09 PM

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)