The Advisor Weblog |
- The London fix definition
- U.S. data disapoints, Dollar falling
- Hourly majors’ perspective
- Technical points for EUR and GBP
- Majors’ sentiment for today
- Starting the day
| Posted: 23 Dec 2009 07:38 AM PST I have been asked what the London fix is, and how it affects the market. Seems an interesting comment to post here, so we all can learn something while dollar keeps running lower Usually apply to gold, the London fix is a certain price twice a day, released every day, where a pool of 5 old big firms set a price for a certain commodity, that attempts to reflect the price at which buy and sell orders from the firms customers are in balance. The London Fix is an internationally recognized benchmark price for that particular moment in time, and is just a price based on supply and demand forces of the market. That’s why at certain times of the day, we see rallies heading to that particular levels. the way this fix hits market, will depend on how far or close we are to those levels, that are telling as, a bit subjective (for me, at least) the “fair” price at a certain time. If we are too far away, maybe market reaction is clear at those times, while when we are close to those “fair” prices, we don’t even notice what’s going on.
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| U.S. data disapoints, Dollar falling Posted: 23 Dec 2009 07:08 AM PST New Home Sales disappoint market coming at a very low reading of 355k against 430k last month. Dollar is running strongly agaisnt major rivals, along with U.S. stocks. Watch for 1.4340 in Euro, 91.20 area in Yen and 1.6000 if reached in Pound, those are the key levels where majors either halt and retreat, or break and continue.
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| Posted: 23 Dec 2009 06:37 AM PST Hi all! I won’t be publishing the best pair to trade, really I don’t see clear rallies today. Here is the hourly perspective for U.S. session!
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| Technical points for EUR and GBP Posted: 23 Dec 2009 06:00 AM PST Dollar is slightly down across the board after worse than expected U.S. data, still movements are quite tiny across the board. Eur/Usd remains capped under 1.4280 area, with resistances for next hours around 1.4310 and 1.4340, while supports lie at 1.4250 and the 1.4220 area. Gbp/Usd also in a tiny range, quotes around 1.5950 and has supports at 1.5920, 1.5870 area and 1.5840. Resistances will be at 1.6010 and 1.6060 the most.
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| Posted: 23 Dec 2009 04:23 AM PST Here is majors’ sentiment for today: Eur/Usd: Slightly Bearish Gbp/Usd: Slightly Bearish Usd/Chf: Slightly Bullish Usd/Jpy: Slightly Bullish Eur/Gbp: Slightly Bullish
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| Posted: 23 Dec 2009 04:20 AM PST Hi everyone, and welcome back! Holiday is already here, at least, regarding majors. Crosses are exactly where I left them past Asian session start, having move too slowly and is small ranges, except maybe Canadian dollar, that has gain strength against greenback. This is not something minor to watch: pair has been stuck between 1.0410/1.0770 for quite a time now. As long as we remain in range, nothing will happen with the rest of the currencies, meaning it won’t affect the other crosses. Yet a break under the base 1.0400/10 could be and advanced warning, telling us that as soon as volume comes back in full shape, dollar will start at least a downside corrective movement against most rivals. Watch the market as a whole! remember that! Particularly today, that we have some reports in Canada. Early news in Europe had a negative tone, supporting Euro weakness; BOE Minutes did not surprise, neither Pound, while gold remains close to these days low, around $1080/oz. Let’s see what we have around the board. Here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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