Thursday, December 24, 2009

The Advisor Weblog

The Advisor Weblog

Majors’ hourly perspective

Posted: 24 Dec 2009 06:48 AM PST

Besides the hourly majors’ perspective, let me tell you, something is going on with Swissy. Look at the pair last rally to the upside.. some small intervention? ahead of more? Take care of positions in that pair.

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-12-24.html

Dollar regains the upside after data

Posted: 24 Dec 2009 05:41 AM PST

Unemployment claims fell to 452K from 480K previous week, While Durable Orders rose to 0.2%, market was expecting a 0.6% rise, yet reading is good after past month -0.6%, while the Core reading reach 2.0% far above expectations. Dollar jumped to the upside across the board, while U.S. futures are higher, and gold under 1100.

EUR/USD quotes around 1.4380, with immediate support at 1.4350 ahead of 1.4300 area.

USD/JPY runs fast watch for a break above 91.85, while GBP/USD around 1.5960 key level to watch is 1.5920, this week low.

EUR/USD big and small picture

Posted: 24 Dec 2009 04:28 AM PST

Since I’m really not attempting to trade today, I decide that we could take a look at the big picture in Euro. This is a daily chart, showing as some interesting stuff: pair broke the ascendant trend line coming from March, and accelerated to the downside reaching over sold conditions quickly, approaching to 1.4185 area, 50% retracement of the monthly fall 1.60/1.23. 20 SMA has a nice bearish slope in the daily chart, supporting current movement as corrective. A Fibo apply to the last daily descendant rally show pair approaching to the 23.6% around 1.4430, first resistance level to watch, ahead of 38.2% of the same rally, around 1.4560.

 

 

4 hours charts show pair fighting around 1.4400, with indicators pointing to the upside, with some nice strong momentum. Still, movement could be consider long term corrective as long as we remain under that mentioned 1.4560. Above that level, trend will be on doubt and a break above 1.4620, 61.8% retracement of the monthly fall, will be key as if the pair regains that level, I expect further upside movements. On contrary, a break under 1.4300 first, and 1.4185 then, will favor the downside for the days to come. Let’s wait and see what happens with U.S. report, and the reaction after it.

 

Remember we have markets closed and holidays, so reactions likely to extend on next Sunday Asian opening.

 

Starting the day

Posted: 24 Dec 2009 03:10 AM PST

 Hi everyone and welcome! Dollar is down and Euro is up, extending yesterday’s rally after worse than expected U.S. data. Euro has been favored early today after the Greek parliament has approved a deficit-cutting budget for next year.

I have been commenting several times here and in the Live Webinars, the chance of gold rebounding around $ 1050/80 per oz. as some Central Banks were rumored to be buying back: well gold gain more than 20 bucks since test of that zone and quotes at 1103, pushing dollar lower across the board. We have Durable Good Orders today in the U.S., so pay attention there that report will be decisive: a good or even better than expected reading will help greenback, while bad data will likely trigger a sell off.

However, half the world is celebrating Christmas, and the other half, is getting ready to do so. From here, I want to Wish the best Christmas possibles to all the Fxstreet.com family, you are great human beings, and I love you all!

The same for all of you, that read me, and support me day after day! You have no idea how important your constant feedback is for me. Merry Christmas to all of you! have a lovely evening  with your loved ones! that’s all  that really worths in this world.
Posted by at 6:04 PM

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