Saturday, January 30, 2010

Ethics Expert on Global Warming...

Mike Treder, Managing Director at the Institute for Ethics and Emerging Technology, notes that ALL those who disagree with him that Global Warming is going to kill billions unless we invest more in wind farms are either stupid or evil. One would think such a manichean understanding of a complex system would only be found in rural bars were everyone has a chain attached to their wallet. I prefer to be called evil.
Posted by at 9:51 AM 0 comments

Friday, January 29, 2010

The Advisor Weblog

The Advisor Weblog

Live Coverage U.S. GDP

Posted: 29 Jan 2010 05:09 AM PST

In a few minutes, I will start the Live coverage of the U.S. GDP release, as usual at Fxstreet.com home page

See you there!

Hourly perspective for majors

Posted: 29 Jan 2010 05:04 AM PST

Best pair to trade now:EUR/USD

Posted: 29 Jan 2010 04:21 AM PST

Gold charts

Posted: 29 Jan 2010 03:17 AM PST

It’s been a while since I don’t post a gold chart, and circumstances are interesting enough to do it: this is a daily chart. As you can see, the metal corrected almost the 61.8% of the last daily bearish rally, from historical high, to December lows, around 1074. Yesterday that zone halted the downside, but we are very close to the level. I’ve read rumors around saying Central Banks like China or India are interested to buy around 1050/80 to increase their reserves. Keep in mind just rumors! Anyway, I will expect some fast fall if we get under that area, with next strong supports at 1062, 1054 and 1031. To the upside, 1100 is the level to watch, ahead of 1115.

GBP/USD weekly range

Posted: 29 Jan 2010 03:04 AM PST

GBP/USD has spent all the week, trapped in between past Monday’s high of 1.6282 and low of 1.6077. 200 pips range, with no trend defined. Until we break any of those extremes, I have no bias for the pair. As more time passes, more it makes me stay away from it. Moving averages in this 4 hours charts turned flat, yet indicators look slightly bullish at this point. Above 1.6165, pair could approach to the 1.6200 area ahead of roof of the range. Under 1.6100, next support comes at the 1.6160 area.

 

Living in the third world

Posted: 29 Jan 2010 02:29 AM PST

I know you want to read about forex, and not about this stuff, but really I’m so angry this morning, I need to share this with you! and maybe is one of the reasons I can’t understand CFTC rules, as I still believe north of Ecuador things are not like here.

You know, Argentina produces meat and seeds. We are a primary country producer, and around the world is well know the quality of our meat. Well, this month, cow meat prices are suffering and increase of 20%, just this month; the basic aliment here, as its’ supposed to be cheap. Our dear president has spent two hours on T.V., yesterday, recommending people to eat pork, because is aphrodisiac. No, I’m not kidding! Her own words. Today, she is making an ode to chicken.

She is not talking about her last decision of kicking away our Central Bank president because he is not willing to let her use the country reserves; not talking about the resignation of her personal secretary, that is under investigation after his personal  assets rose 756% ( YES! SEVEN HUNDRED FIFTY SIX PERCENT) in 6 years. Nop! chicken and pork!

HA! 70% of people here, lives under the line of poverty. Unemployment is uncountable, because of course, our official stats centers is subdued to government and gave us beautiful drawings of inflation, unemployment, economy, etc, etc, etc.

The list continues. I have my parents, and brothers here, my kids their friends that’s why I don’t pack and finally leave this life.  But day after day, I can only think of crossing the line and jump to the more civilised side of the world.

Majors’ sentiment for today

Posted: 29 Jan 2010 02:07 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Bearish

Usd/Chf: Slightly Bullish

Usd/Jpy: Neutral

Eur/Gbp: Bearish

Eur/Jpy: Bearish

Gbp/Jpy: Slightly Bullish

Starting the day

Posted: 29 Jan 2010 02:04 AM PST

Hi everyone and welcome back! Friday, last day of the month. Dollar extended it’s rally against Euro and Aud, past Asian session, but in general was a quiet session. Bank of Japan Governor Masaaki Shirakawa said the central bank stands ready to take “swift” action to stabilize markets when necessary, yet their policy statement did not include any cash injection or bond purchase this month, so no big surprises there. Early Europe data come out positive for the U.K. with house prices jumping the most in 5 months, 1.2%; euro zone estimated CPI (inflation) came under expectations at 1.0%, while unemployment remained unchanged at 10.0%.

Gold continues down, quoting around $ 1081/oz, supporting dollar strength across the board. Market seems to be waiting for U.S. GDP later today, so here is the link for today’s calendar, while i take a look at my charts:

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

Have a great day! 
Posted by at 5:27 PM 0 comments

Thursday, January 28, 2010

The Advisor Weblog

The Advisor Weblog

First brokers, now traders fighting the CFTC

Posted: 28 Jan 2010 07:44 AM PST

A good friend of Fxstreet.com and one of the most professional traders I had the pleasure to meet during the ITC in Barcelona past 2009, Mr. Andrei Pehar, has  launched a new site at www.TradersAlliance.org with the aim to make it “a central place for disseminating new information as is become available, coordinating both our platform and our actions (much like the Commission does for dealers), and eventually maintaining a database of good and bad brokers and service providers to do business with. This, I believe, is the way to a safer market for everyone - not restrictions on how we can trade or whom we can do business with and under what circumstances”, in Andrei’s words.

Folks, let me tell you, I’m with him. I don’t like anyone to tell me what I can or cannot do with my money. ( In fact, I don’t like anyone telling me what I can or cannot do.. I’m big enough, supported myself since I was 18, and being 40 I just tolerate “orders” from mom ;) )

Anyway! I already joined the group. Let’s tell the “land of freedom and opportunities” rulers what we think!

Stocks sinking dollar running

Posted: 28 Jan 2010 07:31 AM PST

U.S. stocks are falling hard as well as gold testinf 1085 zone. Dollar and yen regained the upside, with EUR/USD ready to test intraday low at 1.3930 aiming for lower levels. Pound despite the long fight, was unable to break above 1.6250 area, and lost 100 pips in a bit more than an hour. USD/JPY seems to be next in line: if the pair lost the 89.70/80 area, rally could extend quickly down.

U.S. data

Posted: 28 Jan 2010 05:34 AM PST

Durable Orders come out better than previous month, at 0.3% yet under 2.1% expected, while past month was revised to the downside. Core durable Orders come out above expectations at 0.9% while unemployment claims printed 470K for past week. Stocks are down, risk aversion come back, and dollar and yen are up in this first minutes.

 

Best pair to trade now:GBP/USD

Posted: 28 Jan 2010 05:09 AM PST

EUR/USD fighting 1.4000

Posted: 28 Jan 2010 04:29 AM PST

Eur/Usd has reached the 1.3930 area before retreating to current levels, but has no aims to regain the upside, and in general pair remains bearish. Under 1.3980, seems likely the pair will try to retest today’s low, around 1.3930, ahead of the 1.3900 area. Resistances come at 1.4030, 1.4065 and 1.4110 area.

 

Fed Interest Rates decision

Posted: 28 Jan 2010 03:52 AM PST

Majors’ sentiment for today

Posted: 28 Jan 2010 03:26 AM PST

Here is majors’ sentiment for today:Eur/Usd: Bearish

Gbp/Usd: Bullish

Usd/Chf: Bullish

Usd/Jpy: Slightly Bullish

Eur/Gbp: Bearish

Eur/Jpy: Bearish

Gbp/Jpy: Bullish

Starting the day

Posted: 28 Jan 2010 03:23 AM PST

Hi everyone and welcome back! after last FOMC statement showing Kansas City Fed President Thomas Hoenig voted against leaving short-term interest rates at ultra-low levels, first time in over a year decision is not unanimous, dollar gained the upside and keeps the good tone against Euro and Swissy, both at fresh multi weeks low; commodity currencies however, as well as Pound are bullish today, with GBP/USD testing again the 1.6250 area. Pound strength come with London strong opening, and despite stocks are losing aims, pair keeps hovering around the zone. I will take a look at charts now, and start publishing the technical points. We have a bunch of reports in the U.S. so, here is the link for today’s calendar:

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

Have a great day! 
Posted by at 5:17 PM 0 comments
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