Tuesday, December 15, 2009

The Advisor Weblog

The Advisor Weblog

Best pair to trade now: Eur/Usd

Posted: 15 Dec 2009 07:44 AM PST

I was convinced that FOMC meeting was today, and finally discovered it is tomorrow! That’s because I lived accelerated (But happy at least!) Anyway, here is my choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2009-12-15.html

Majors’ hourly perspective

Posted: 15 Dec 2009 06:35 AM PST

Dollar keeps rising ahead of U.S. news

Posted: 15 Dec 2009 04:49 AM PST

Dollar keeps rising across the board, ahead of U.S. data, with EUR/USD having made a very shy pullback to the 1.4550 area, and Pound reaching 1.6200 support zone. Gold is also falling, barely above 1110/oz (remember rumors of central banks ready to buy around 1050/80). Japanese yen is also falling at daily high around 89.60. Data will be key to keep this trend alive.

More news! ZEW Survey

Posted: 15 Dec 2009 02:10 AM PST

Survey come out slightly better than expected regarding Germany, yet euro zone economic expectations fell to 48.0 against 51.8 previous month.

EUR/USD quotes at 1.4530 with 4 hours charts strongly bearish showing a huge volume/acceleration candle trough the already broken 1.4620 support zone. Rally seems over extended in the hourly, pair is over sold, yet no signs of correction yet. Next support comes at 1.4510 area, ahead of 1.4460/70. An upside corrective movement should over come 1.4550 resistance area, we are too close to it, with next resistances to watch at 1.4585, and 1.4620.

 

Pound rising on higher inflation

Posted: 15 Dec 2009 01:46 AM PST

Consumer Price Index rose in the U.K., with the core reading reaching it’s highest level since November 2008, while RPI also rose, to its larges since April 1990. As commented many times before, the U.K. is the only economy with signs of inflation instead of deflation, and that could force them to hike rates sooner than expected. Pound of course, is up on the news, let’s see if it can beat market sentiment.

GBP/USD is at 1.6270 area, still far from 1.6330, first resistance level to watch; only above it pair could extend the rise to 1.6380 and maybe 1.6420. The downside remains quite messy, with 1.6250 as first support to consider, ahead of the 1.6200 area. I would love to see the pair under past week low of 1.6165 to confirm further falls.

Majors’ sentiment for today

Posted: 15 Dec 2009 01:39 AM PST

Here is majors' sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Slightly Bearish

Usd/Chf: Bullish

Usd/Jpy: Slightly Bullish

Eur/Gbp: Bearish

Starting the day

Posted: 15 Dec 2009 01:21 AM PST

Hi everyone and welcome back. Day has not yet started (at least from the macro news point of view) and market is already moving strongly with European opening; after a quiet Asian session, with some noisy comments from RBA that send Australian dollar lower, Euro finally break lower and as commented on last night Daily Wrap Up webinar, we hit the 1.4550 zone. Pound is under pressure, thus still above 1.6250, while Japanese yen fall as Japanese central government’s primary budget deficit is set to hit a record Y34.204 trillion in the current fiscal year ending March, Parliamentary Secretary of Finance Hiroshi Ogushi said. Indeed, could be a more than interesting day as we have a good number of news in the coming hours, starting in a couple of minutes with the U.K. CPI and PPI, and ending late at the U.S.  session with the FOMC Minutes. I will be keeping the blog updated as much as I can! Here is the link for today's calendar:

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

Have a great day!
Posted by at 5:17 PM

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