Thursday, December 17, 2009

The Advisor Weblog

The Advisor Weblog

U.S. data above expectations

Posted: 17 Dec 2009 07:06 AM PST

The index of leading economic indicators rose for the eighth consecutive month in November, increasing 0.9% last month after rising an unrevised 0.3% in October, Philadelphia Manufacturing index, rose to 20.4 against past month 16.7. Stocks are down in the U.S. dollar and yen slightly down after the report, yet still no fire works in market. Seem we have wasted all them early Europe. Gold remains quite low, at 1116.

Levels to watch for all majors’

Posted: 17 Dec 2009 06:44 AM PST

EUR/USD 1.4460 1.4320

GBP/USD: 1.6160 1.5980

USD/CHF: 1.0550 1.0440

USD/JPY: 90.30 89.50

AUD/USD: 0.8940 0.8830

USD/CAD: 1.0770 1.0680

Majors’ hourly perspective

Posted: 17 Dec 2009 06:33 AM PST

Gold pushing lower

Posted: 17 Dec 2009 05:43 AM PST

Gold fell heavily today, approaching to this month low at 1110. Next level to watch is the 1100/2 area, where we have the 61.8% retracement of the daily upside rally. If gold loses that, we could see further falls to the 1050/1080 level. Rumors say Central Banks are ready to  buy there.

 

Best pair to trade now: USD/JPY

Posted: 17 Dec 2009 05:37 AM PST

Here is my choice for today: Usd/Jpy, I feel brave, returnong to my old love! Beware of U.S. reports for this one

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2009-12-17.v02.html

GBP/USD technical points

Posted: 17 Dec 2009 04:53 AM PST

OK reading some more stuff, I found out Retail sales early today in the U.K.  print a really ugly reading, coming out -0.3% (next to Christmas! amazing, this is the time of the year when sales are supposed to increase!) against 0.6% past month. Withdollar higher after FOMC and gold losing ground, Pound reached the 1.6080 level, but take a look at this 4 hours charts: i use the CCI with 200 levels instead of 100. Cut throught the -200 to the downside, signals continuation. Now, if CCI turns back up and reenters to the upside the -200, should trigger some upside corrective movement.  Quoting around 1.6120, resistances lie at 1.6160 and 1.6200 area. Maybe it could extend to 1.6250, yet I don’t see that much. Under today’s low, supports lie at 1.6020 area, ahead of 1.5970.

 

Majors’ sentiment for today

Posted: 17 Dec 2009 04:37 AM PST

Here is majors' sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Bearish

Usd/Chf: Bullish

Usd/Jpy: Neutral

Eur/Gbp: Slightly Bullish

Starting the day

Posted: 17 Dec 2009 04:29 AM PST

Hi everyone, and welcome! Yesterday was quite a long day, that started for me at 5 a.m. (local time) and ended around 22:00 p.m. with reports for Asian session, and the daily Wrap Up Webinar. Today I could not wake up! second time this month I’m really tired, yet I love this! I can’t help it to spent so many hours in market. Anyway!

EUR/USD is quoting at 1.4360, oversold both in 1 and 4 hours charts, having reached 1.4330 area. Strong support there, in between 1.4320/4330, pair should correct to the upside before another run lower, trough that 1.4320. Supports under there, come at 1.4270 and 1.4230.  To the upside, corrective movement will find resistances at 1.4390, 1.4420 and then 1.4460 area.  I will post charts in a while ok?

Don’t forget to check today’s calendar! I did!

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

Have a great day!
Posted by at 5:53 PM

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