Tuesday, December 29, 2009

The Advisor Weblog

The Advisor Weblog

Dollar recovering watch YEN and GBP

Posted: 29 Dec 2009 08:02 AM PST

Dollar is recovering ground as expected after the U.S. report, with USD/JPY approaching to key 91.85 area, with next level to watch at 92.40. GBP/USD is at 1.5960, key support watch for an acceleration to 1.5920. EUR/USD is testing 1.4400, likely to extend the downside if breaks under 1.4380.

Gold at $ 1100/oz also support dollar rises. Let’s see if AUD manages to break lower and test the 0.8940 level giving greenback further support.

Majors’ hourly perspective for U.S.

Posted: 29 Dec 2009 06:30 AM PST

Waiting for Consumer Confidence due in 30 minutes, here is the hourly perspective for majors:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-12-29.html

Best pair to trade now: Aud/Usd

Posted: 29 Dec 2009 05:13 AM PST

AUD/USD daily chart

Posted: 29 Dec 2009 04:26 AM PST

Australian dollar is rising strongly, supported by risk appetite and gold slightly positive on the day, despite still inside yesterday’s range. This pair has break above the 0.8940 area, now strong support to consider, as it is the 76.4% retracement of the monthly fall from 0.98 to  0.60. I choose the daily chart, because the pair is approaching to the 20 SMA around 0.9010/20. That MA should halt the rally, at least for today, and if reached, made the pair retreat, as it usually acts as dynamic resistance/support level for this pair. Heep an eye there. Supports, under 0.8940, come at 0.8900 and .8870 for today.

EUR/USD attempting to break higher

Posted: 29 Dec 2009 04:02 AM PST

Eur/Usd quotes at the daily high and seems ready to extend the upside: 4 hours indicators are supporting the bias, while 20 SMA under current price and gaining upside slope support current intraday trend. First resistance comes at the 1.4460 area, ahead of 1.4500, while supports for next hours lie at the 1.4415 area, 1.4380 and then 1.4350.

 

Majors’ sentiment for today

Posted: 29 Dec 2009 03:14 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Slightly Bullish

Gbp/Usd: Slightly Bearish

Usd/Chf: Slightly Bearish

Usd/Jpy: Bullish

Eur/Gbp: Bullish

Eur/Jpy: Bullish

Gbp/Jpy: Neutral

Starting the day

Posted: 29 Dec 2009 03:11 AM PST

Hi everyone, how is this holiday treating you all? Hope very well! Dollar is down across the board waiting for fresh U.S. data, under pressure  due to some risk appetite reaching markets as stocks around the world run higher. Commodity currencies are more than strong today, with AUD reaching the 0.8940 key level against greenback, despite gold is down an testing 1102 support; maybe the reopening of Australian market has something to do with that.  USD/CAD reached 1.0400, exactly the base of the range. Both zones are quite strong, I will add some charts.

I’m still watching the EUR/CHF, and the lack of mesures to prevent Swissy strength is another factor weighting against greenback. EUR/USD reached the 1.4135 level, the 23.6% retracement of the daily fall, I will also add the chart, while Pound tested teh 1.6060 area and retreat to 1.6000. We have some macro reports today in the U.S. let’s see what reaction they trigger in market. Here is the link for today's calendar:

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

Have a great day!

 

 
Posted by at 5:37 PM

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