Wednesday, January 13, 2010

The Advisor Weblog

The Advisor Weblog

Pound hold gains, extends rally

Posted: 13 Jan 2010 09:12 AM PST

GBP/USD has not only hold early gains but is actually extending the rally, and testing the 1.6300 level. 4 hours charts are still bullish, but we are approaching to daily top. Maybe 1.6320 I can’t see much more than that today. CCI is at the 200 level in 4 hours charts, and with some angle, not pretty vertical signaling further acceleration from here. Watch for a probable downside corrective movement; after 4 days straight up, seems likely despite the general bullish persistent tone. Corrective movement should test the 1.6240 support area, and if breaks under, test 1.6180/90 zone.

Eur/Usd now near key intra day support

Posted: 13 Jan 2010 08:21 AM PST

After failing to break above the 1 4565 area, the key Fibo resistance, now Euro is all the way back down, approaching 1.4460/70 support area. Despite several attempts, pair was unable to push lower, yet at this point, with hourly charts signaling further falls, an extension under this level could take us to the 1.4440 area, ahead of 1.4380.

 

Gold and stocks sink, Dollar up

Posted: 13 Jan 2010 07:26 AM PST

U.S. stocks are falling strongly with gold also falling and breaking under yesterday’s lows, and quoting at $ 1123/oz. Dollar and yen are running higher across the board, as risk aversion bites. We have crude oil inventories in 5 minutes: a strong reading there could exacerbate current movements.

Majors’ hourly perspective for U.S. session

Posted: 13 Jan 2010 06:43 AM PST

Best pair to trade now: USD/JPY

Posted: 13 Jan 2010 05:13 AM PST

EUR/USD testing key resistance area

Posted: 13 Jan 2010 04:17 AM PST

Euro rise send the pair to current 1.4565 zone, where the pair is testing the 38.2% retracement of the last daily fall. 20 SMA under current price and with a nice bullish slope acting as support is favoring further rises, with 1.4620 as next strong level to watch. To the downside, pair needs to lose the 1.4530 area to lose current bullish momentum, and maybe correct with supports at 1.4510 and 1.4470 area.

 

No webinars today

Posted: 13 Jan 2010 03:59 AM PST

I was schedule for a live webinar today, and I had to cancel it: I have no voice. I can write, but that’s it. From 40°C in Buenos Aires we jumped to 15°C and seems I have cached a small cold; anyway, I will stay around the blog today, and we are re scheduling the webinar for next Monday. See you there!

 

Majors’ sentiment for today

Posted: 13 Jan 2010 03:50 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Slightly Bullish

Gbp/Usd: Bullish

Usd/Chf: Bearish

Usd/Jpy: Neutral

Eur/Gbp: Bearish

Eur/Jpy: Bullish

Gbp/Jpy: Bullish

Starting the day

Posted: 13 Jan 2010 03:47 AM PST

Hi everyone and welcome back! Dollar is under pressure during current European session, despite early hawkish comments from two Federal Reserve officials: while Plosser said that a sluggish labor market shouldn’t deter the Fed from hiking interest rates, Fisher from Dallas add that the FED must start to unwind its loose policies to avoid a rise in inflationary pressures.  With gold and oil subdued today, and stocks barely fighting to stay positive in Europe, is Pound that’s leading the way today: Gbp is rising strongly across the board, breaking above 1.6250 strong area at this very moment, reversing dollar strength across the board. Anyway, here is the link for today’s calendar, we have some news to take care today, yet non schedule news are hitting the wires, so pay attention to the world today:

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

Have a great day!
Posted by at 5:28 PM

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