Monday, January 4, 2010

The Advisor Weblog

The Advisor Weblog

U.S. data above expectations

Posted: 04 Jan 2010 07:04 AM PST

U.S. data print a better than expected reading, helping dollar across the board, at least in this first spike; gold and oil, however are not giving up an inch, halting further dollar rallies. U.S. stocks are higher, as ISM print a 55.9 reading, above the 53.6 previous month and the 54.1 expected.

 

Hourly perspective for mayors’

Posted: 04 Jan 2010 06:45 AM PST

Best pair to trade now: USD/CAD

Posted: 04 Jan 2010 04:45 AM PST

Gbp/Usd rally halted at 200 EMA

Posted: 04 Jan 2010 04:30 AM PST

Pound rally remains capped by the 200 EMA in the 4 hours charts, as the pair tested the area several times and retreat strongly from there. Only clearly above 1.6250, pair could extend upside momentum, while at current zone seems more likely to see some downside corrective movement, with supports at 1.6160, and 1.6110. Pair has broke above the daily descendant trend line, and completed the pullback early Europe, keeping general bias slightly bullish for today, despite current correction.

 

EUR/USD, technical perspective

Posted: 04 Jan 2010 03:48 AM PST

4 hours charts show the pair has lost past Thursday bearish momentum, and indicators point for further upside gains after the pair regained the 20 SMA, that anyway, remains quite flat at this point, to suggest a trend. Pair is testing the 1.4400 area, and has a strong resistance around 1.4445/60 so any confirmation above 1.4410 should apporach to that level, followed by 1.4485 area. Supports from current price lie at the 1.4360 area, followed by 1.4320 and finally 1.4270.

 

Majors’ sentiment for today

Posted: 04 Jan 2010 03:19 AM PST

Here is majors’ sentiment for today:

Eur/Usd:Slightly Bullish

Gbp/Usd: Bullish

Usd/Chf: Slightly Bearish

Usd/Jpy: Slightly Bearish

Eur/Gbp: Bearish

Eur/Jpy: Bullish

Gbp/Jpy: Bullish

Starting the day

Posted: 04 Jan 2010 03:16 AM PST

Hi everyone and welcome to this blog! New year started with a weak dollar, losing ground against major rivals, in what still could be consider mostly corrective after last December rally, mounted on hopes better U.S. data will prompt the FED to start rising rates sooner than expected.

However, European majors were supported by early Europe data:euro zone’s purchasing managers index for manufacturers rose to 51.6 from 51.2, as initially estimated, sending Euro close to 1.4400, while Pound regained early Asian loses after Manufacturing PMI rose above expectations to 54.1 from 51.8, and quotes back above 1.6200. Also, gold is up, almost $ 1120/oz, while oil break above $80 per barrel, favoring commodity currencies like AUD and CAD.

This week is full of U.S. data, including last Payrolls of 2009, so market will be waiting for that to decide further midterm trends. Here is the link for todays’ calendar:

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

Have a great day!
Posted by at 5:04 PM

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