The Advisor Weblog |
- Usd/Jpy fighting 91.00
- Best pair to trade, continues to be GBP/USD
- EUR/USD approaching to key support zone
- Busy morning!
| Posted: 19 Jan 2010 05:50 AM PST Pair has made a strong come back on dollar recovery, yet despite some comments of an ex member of BOJ faroving yen weakness, the pair remains under 91.00 level. 4 hours charts show bullish indicators while price fighting the 20 SMA around current zone. We need a confirmation above 91.20 to see the pair really able to extend the upside, with 91.55 as next resistance level to watch. Under 90.80, supports come at 90.50 and 90.10 area.
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| Best pair to trade, continues to be GBP/USD Posted: 19 Jan 2010 05:38 AM PST Here is my choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-01-19.html
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| EUR/USD approaching to key support zone Posted: 19 Jan 2010 05:13 AM PST The Euro fell strongly since ZEW data was release, and 4 hours charts show pair remain bearis, thus settling down a bit and consolidating at current levels. We have past December low, around 1.4215 as first key level to watch: under it, pair could extend the fall, as I do believe that we have a good number of stop losses gathered under that level; next supports come at 1.4180 and 1.4140 zone.To the upside, consider 1.4310 area, 1.4335 and the 1.4390 area.
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| Posted: 19 Jan 2010 04:46 AM PST Hi everyone! I hate to start here so late! but I could not help it today.. my apologizes my friends… just a busy crazy morning. Anyway! Two quite interesting things: inflation in the UK and ZEW reading. Inflation in the UK on yearly basis is at 2.9%. Despite current downside movement in Pound, that should keep Pound mostly bullish as it means a probable rate hike in the short term. above 3% is really bad for BOE and we are almost there! target is just 2.0% ZEW survey in Europe show really bad readings, Greece is in trouble, Spain is in trouble, EUROZONE is in trouble. Dollar is taking advantage of this across the board, as stocks and commodities fall. I will prepare my daily reports, and see what we can grab. We still have strong data to came in Canada, so here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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