The Advisor Weblog

Majors’ hourly perspective for Asian session
After FOMC
Gold and oil keep running higher
More U.S. Data
Majors’ hourly perspective for U.S. session
U.S. ADP survey
Best pair to trade now:EUR/USD
EUR/USD bigger picture
Usd/Jpy regaining the upside
Majors’s sentiment for today

Majors’ hourly perspective for Asian session

Posted: 06 Jan 2010 03:50 PM PST

Here is the hourly perspective for next hours:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-01-06.v04.html

After FOMC

Posted: 06 Jan 2010 11:42 AM PST

The FOMC’s minutes from December policy meeting show FED expects a slow recovery and subdued inflation while they show concerns about weak labor market and worries about economy may slow down when stimulus ends. This translated means no rate hikes at sight. Market is quickly leaving dollar alone, and commodities accelerated the rally. Gold tested the $ 1140 level, while oil pushes trough $ 83 per barrel. EUR/USD is back up watch for the 1.4460 level, past week high, and above it 1.4485 ahead of 1.4515 strong area. Pound remains attached to 1.6000, while USD/JPY keeps holding early gains and remains above 92.20. Swissy accelerated, and EUR/CHF is under 1.4800.

Gold and oil keep running higher

Posted: 06 Jan 2010 08:37 AM PST

While gold quotes at $ 1136/oz, oil jumped above $ 82.00 per barrel, overcoming past year high despite U.S. increase in inventories. Cad is running higher, with USD/CAD setting a fresh 11 weeks low, and dollar is down across the board except against JPY. Still the day is far from over or setting: FOMC Minutes to be release in more than 2 hours could trigger another run across the board.

More U.S. Data

Posted: 06 Jan 2010 07:03 AM PST

Non Manufacturing ISM come out at 50.1 against 48.7 November, and expectations of 50.5. The employment sub component is usually key ahead of Friday’s Payrolls, and the employment index come out at 44.0 versus 41.6 in November.As previous data, better than previous month yet slightly under expectations. Dollar is again slightly down against major rivals and gold up in a first spike, still no much definitions seen across the board. Just keep an eye on AUD and CAD, they keep rising and rising. Dollar will remain in trouble if both majors decide to extend current rallies.

Majors’ hourly perspective for U.S. session

Posted: 06 Jan 2010 06:32 AM PST

Here is the hourly perspective for current session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-01-06.v03.html

U.S. ADP survey

Posted: 06 Jan 2010 05:17 AM PST

Well employment report is here, and ADP the private survey that tends to advance official government report (not in the most accurate way but at least, tends to advance the probable trend of employment change) come out at -84K against -169K in November, and above the -74K expected. U.S. futures are falling while gold spiked to the upside. First spike across the board send dollar lower, against most rivals, as the reading is worse than expected despite better than previous month.

Best pair to trade now:EUR/USD

Posted: 06 Jan 2010 04:37 AM PST

Ahead of ADP, here is my choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-01-06.html

EUR/USD bigger picture

Posted: 06 Jan 2010 04:02 AM PST

If we take a look at the big picture, we can quickly see that pair is in a consolidation stage, far from 1.51 highs, and much closer to the 1.4220 area low; seems the upside remains quite limited, at this point, more with the pair under 20 SMA and the 1.4360 strong level. Indicators seem bullish at this point, yet to confirm such movement, I would like to see the pair opening a candle and accelerating above mentioned level. Next resistances lie at the 1.4400 area, and 1.4440, ahead of yesterday’s high around 1.4485. To the downside, if 1.4320 gives up, pair should retest the 1.4270 area, ahead of the 1.4220 lows. Let’s see what happens in the next 30 minutes with U.S. ADP survey.

Usd/Jpy regaining the upside

Posted: 06 Jan 2010 03:20 AM PST

USD/JPY quotes around 92.45, having overcome 92.20 strong area. 4 hours charts show a strong bullish momentum in the pair, so above next resistance level, around 92.70, pair likely extend current rally to the 93.15 area, past week highs. Above lies strong 93.40 resistance level weekly high. Supports today lie at
92.20, 91.80 and the 91.40 zone.