Wednesday, December 2, 2009

The Advisor Weblog

The Advisor Weblog

Best pair to trade now: EUR/JPY

Posted: 02 Dec 2009 05:45 AM PST

Eur/Usd did not accomplish my target yesterday, so let’s see if today we can get a better clean rally from this pair. Here is today’s choice:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2009-12-02.html

USD/JPY consolidating

Posted: 02 Dec 2009 04:35 AM PST

Japanese Yen lost some ground as Nikkei 225 rose and risk appetite increase, yet remains under 87.50, 61.8% retracement of past week fall. Holding above 87.00, supports today lie at 86.45 and the 86.00 level, while only a clear confirmation above that Fibonacci zone, pair could extend the upside rally to the 88.00 area. If we close the day above that level, 84.80 could well become a midterm bottom for the pair.

 

GBP/USD technical points

Posted: 02 Dec 2009 04:19 AM PST

Pound manages to break higher, above static resistance zone 1.6660, also a daily descendant trend line; current candle opening above it, with bullish indicators, and 20 SMA under current price and turning higher, above current high pair should retest the strong 1.6740 area. Above it, pair has next resistances at 1.6785 and 1.6840. Supports today come at mentioned 1.6660, followed by 1.6620 area (pullback to the mentioned line), 1.6570 and 1.6520.

 

Majors’ sentiment for today

Posted: 02 Dec 2009 04:08 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Slightly Bullish

Gbp/Usd: Bullish

Usd/Chf: Slightly Bearish

Usd/Jpy: Slighly Bullish

Eur/Gbp: Bearish

Starting the day

Posted: 02 Dec 2009 04:07 AM PST

Hi everyone, and welcome back! Interesting times this December, with gold above $ 1200/oz, stocks printing fresh yearly highs, and dollar paying the price across the board. Majors are consolidating close to yesterday’s high, having slow down the rise a bit, as we are in the first week of the month, with ECB, and Payrolls included. Euro hovers around 1.5100, Swiss Franc under parity, Pound approaching to 1.6700, set things for another run against dollar. Sentiment has no reason to change today, as I don’t think ADP, the only report to take really care of, could affect or change things. Anyway, let’s start with technicals as I have had quite busy mornings lately, and I don’t want to leave you without the updates!  Here is the link for today's calendar:  

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

Have a great day!
Posted by at 5:29 PM

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