Monday, December 14, 2009

The Advisor Weblog

The Advisor Weblog

Majors’ hourly perspective

Posted: 14 Dec 2009 06:55 AM PST

Best pair to trade now: GBP/USD

Posted: 14 Dec 2009 05:33 AM PST

EUR/USD fighting key level

Posted: 14 Dec 2009 04:47 AM PST

As expected past Friday, Eur/Usd reached the 1.4620 area, the key weekly level, and fall further to 1.4580, from where the pair rebound. Starting the week and consolidating around the 61.8% Fibonacci retracement, break lower is still not confirmed. If the pair holds consolidating around this area,  upside corrections remain limited, and gold keeps falling, pair has good chances to break lower. Moving inside a small ascendant channel in 4 hours charts, under 20 SMA  and with indicators pointing to the downside, pair needs to confirm under 1.4610 to extend the downside, with next supports at 1.4580 and the strong 1.4550 area. Above 1.4680, next resistances come at 1.4710/20, and 1.4760.

Majors’ sentiment for today

Posted: 14 Dec 2009 04:31 AM PST

Here is majors' sentiment for today:

Eur/Usd: Slightly Bearish

Gbp/Usd: Slightly Bearish

Usd/Chf: Bearish

Usd/Jpy: Slightly Bullish

Eur/Gbp: Neutral

Starting the day

Posted: 14 Dec 2009 04:26 AM PST

Hi everyone, and welcome back! As usual lately, and more thin than usual ahead of the end of the year, market has started quiet the week, with gold still leading the way. Asian opening was not much different from past Friday’s close, and greenback lost some ground during Asian sesion, yet mostly a corrective move, as pairs returned almost to where they started the week during early Europe, as we also had an interesting lack of fundamental reports. Japanese yen is up against dollar, and market seems to be waiting Wall Street opening:  U.S. stocks are called to open higher Monday following news Abu Dhabi will make $10 billion available to help relieve Dubai’s immediate debt issues, let’s see if rising stocks are transalted in dollar rises or falls. After past Friday’s better than expected U.S. Retail Sales triggering a dollar rally, seems the inverted correlation between stocks and dollar is coming back to “normal”. Let’s see if that extends and continues today.

 Anyway I hold to my first impresion: gold is the market mover today. Let’s start with the technicals to see what we can find!

Have a great day!
Posted by at 5:20 PM

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