Monday, January 18, 2010

The Advisor Weblog

The Advisor Weblog

Best pair to trade now:USD/JPY

Posted: 18 Jan 2010 04:01 AM PST

Eur/Usd lower range

Posted: 18 Jan 2010 03:06 AM PST

EUR/USD has been range trading almost all the past week, and after past Thursday fall, seems we are setting a lower range, yet as both currencies are quite weak, trend movements are unlikely; having break past week range to the downside, pair is now defining a lower trading zone: holding around 1.4380, key resistance level lies at the 1.4440 area, past week strong support, with 1.4410 in the middle. Under 1.4360, first supports comes at the 1.4330 area ahead of 1.4280 zone.

 

GBP/USD breaking higher

Posted: 18 Jan 2010 02:26 AM PST

Pound continues extending the rally, and broke above past week highs, having reached 1.6380, resistance area. 4 hours charts remain strongly bullish with CCI cutting the 0.00 line, momentum bouncing from the 100 level, and price action supported by 20 SMA. Above mentioned zone, next resistances come at 1.6430 and 1.6480 zone, while supports now, are at 1.6345, 1.6300 and 1.6250 area.

 

Majors’ sentiment for today

Posted: 18 Jan 2010 02:07 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Neutral

Gbp/Usd: Bullish

Usd/Chf: Slightly Bearish

Usd/Jpy: Slightly Bullish

Eur/Gbp: Bearish

Eur/Jpy: Bearish

Gbp/Jpy: Bullish

Starting the day

Posted: 18 Jan 2010 01:43 AM PST

Hi everyone, and welcome back. Quiet start of the week, with dollar weaker across the board, except against Euro. With the lack of news around the world, and the U.S. holiday, not much we could expect from major crosses, but to see them following current trend. Pound remains the overall winner at this point, quoting at past week highs, and ready to extend the rally, as this month bad U.S. data is finally weighting in market. See? After really disappointing readings in Payrolls, and Retail Sales, dollar positive perspective starting past December fade, and market players are quickly leaving the  idea of a sooner than expected recovery (rate hike) in the US.

Sentiment is also keeping euro subdue: Greek economic issues, and the fact that the ECB can’t do nothing about that, (the problem of having 16 different nations with independent governments in one economic union) is keeping the currency under pressure; let’s see how long could this last. Anyway, let’s start with some technicals for the day and the week, and see what we can do in this slow motion Monday.

Have a great day!
Posted by at 7:00 PM

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