The Advisor Weblog

Hourly majors’ perspective for U.S. session
Gold and Oil, AUD and CAD
Best pair to trade now:GBP/USD
EUR/USD stucked at 1.4480
Majors’ sentiment for today
Starting the day

Hourly majors’ perspective for U.S. session

Posted: 12 Jan 2010 06:38 AM PST

Here is the hourly perspective for this session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-01-12.v02.html

Gold and Oil, AUD and CAD

Posted: 12 Jan 2010 05:30 AM PST

Gold and oil keep falling and so commodity currencies. Both are runnning fast, accelerating to key daily levels, and that could favor further dollar rises. Let’s see the trade balance reaction.

USD/CAD, jas the 38.2% retracement of the last daily fall qround 1.0380, ahead of the 1.0400 static level; daily close above that zone will favor stronger rises in the pair.

AUD/USD, already tested earlier today, and remains close to the base of an ascendant channel around 0.9200, also ready to break 20 SM in the 4 hours charts. Expect further falls under that level.

Best pair to trade now:GBP/USD

Posted: 12 Jan 2010 05:13 AM PST

Here is my choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-01-12.v02.html

EUR/USD stucked at 1.4480

Posted: 12 Jan 2010 04:28 AM PST

Euro has been hovering around the 1.4480 area since early Europe, capped under 1.4530 zone, back inside the daily ascendant channel that failed to break yesterday. 4 hours charts show indicators flat, saturated at the top, while 20 SMA is losing upside momentum, still under current price; hourly charts remain bearish a this point yet pair needs to break at least under 1.4440, next support, to extend the downside to 1.4400 area. Above 1.4530, resistances lie at 1.4565, 38.2% retracement of the last daily fall,and 1.4590. area.

Majors’ sentiment for today

Posted: 12 Jan 2010 03:36 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Slightly Bullish

Usd/Chf: Bullish

Usd/Jpy: Bearish

Eur/Gbp: Bearish

Eur/Jpy: Bearish

Gbp/Jpy: Slightly Bearish

Starting the day

Posted: 12 Jan 2010 03:19 AM PST

Hi everyone, and welcome back! After a quiet, consolidative Asian session, dollar is slightly up in Europe, with the euro down as European stock markets open lower, and Pound up after a better than expected reading in the U.K. Trade Balance. Gold is falling at this moment, testing yesterday’s low around $ 1148/oz, supporting further dollar recoveries, particularly against commodity currencies: AUD and CAD are falling further. Greenback also found support after Peng Junming, an official from China Investment Corporation’s asset allocation department, said that the dollar “is at its bottom.”

We have a moved week ahead, full of fundamental data, starting today with U.S. Trade Balance, so I will start with some technical analysis right now.

Here is the link for today's calendar:

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

Have a great day!