Friday, December 18, 2009

The Advisor Weblog

The Advisor Weblog

Majors’ hourly perspective

Posted: 18 Dec 2009 06:25 AM PST

Pay attention to Swiss Franc

Posted: 18 Dec 2009 05:30 AM PST

Swiss Franc has fell well under SNB intervention level early Europe, reaching 1.4910 low. Quoting now at the 1.4970 area, don’t discard an intervention there, that will then get reflected in USD/CHF and so, EUR/USD.

USD/CHF quotes at 1.0430, still bullish in the bigger picture. Above 1.0440, next resistances lie at 1.0480 and 1.0510 ahead of strong 1.0550. Supports, lie at 1.0400, 1.0365 and then, 1.0330.

Best pair to trade now: GBP/USD

Posted: 18 Dec 2009 04:39 AM PST

EUR/USD pattern

Posted: 18 Dec 2009 03:53 AM PST

Since pair broke the daily ascendant trend line coming from March, we can see in the 4 hours charts a particular pattern, that usually occurs in the pair, when is defining a trend: strong fall and consolidation, another strong fall and consolidation, and another, and another. Oversold conditions are reached, with RSI saturated at the bottom, we see a correction, and then more saturation.

Consolidating again capped by 1.4410 area, trend remains bearish in the pair, as 20 SMA has a strong bearish slope. However, we could be near to see some more interesting upside corrective movement. Above that 1.4410 area, we could see a retest of 1.4460 ahead of 1.4520. On the other hand, supports lie at 1.4330, 1.4280 and lower, 1.4220/30 zone. This week close will be key: as far we are of the 61.8% retracement of the weekly rally around 1.4620, more chances we have, to see this downward trend extend.

 

Majors’ sentiment for today

Posted: 18 Dec 2009 03:31 AM PST

Here is majors' sentiment for today:

Eur/Usd: Slightly Bullsih

Gbp/Usd: Slighlty Bullish

Usd/Chf: Bearish

Usd/Jpy: Bullish

Eur/Gbp: Neutral

Starting the day

Posted: 18 Dec 2009 03:24 AM PST

Hi everyone and welcome back! A run to safe havens in early Asian hours due to rumors of a coup in Pakistan (quickly denied by government) send dollar and yen higher across the board, yet in a quiet European session, both currencies are giving up some ground, mostly a corrective movement without losing these last days trend. News are almost over today, (we have just one more report in Canada) and show euro zone Current Account fell more than expected, as well as German PPI, yet trade balance surplus reached 6.3B above expectations and previous month revisited to the downside 4.3B.

In general, stocks are positive and gold moves above the 61.8% after failing to close the day under 1102, still close to that level. Let’s take a look at charts, and see what the day can bring from there.

Have a great trading day!
Posted by at 6:32 PM

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