Thursday, January 21, 2010

The Advisor Weblog

The Advisor Weblog

Dollar one inch away of extending

Posted: 21 Jan 2010 07:56 AM PST

With AUD and Euro testing daily lows, Pound retreating form strong 1.6250 area, stocks and gold down, dollar is one inch away of showing another strong acceleration rally. Check the levels posted earlier, we are about to break more strong ones.

CFTC Live coverage starting in around 15 minutes

Posted: 21 Jan 2010 05:48 AM PST

Being outside the U.S. and knowing how much scams the forex world had along the years, I had always chose for myself and recommend others, to seek for any broker regulated in the US as the only reliable trading options.

However since NFA and CFTC had been presenting new rules, things are getting more and more difficult, particularly for non American citizens. This new regulation is however, ready to strongly hit the industry, even in America, and I do believe is beyond regulation and attempting against personal rights.

To make it easier for everyone to understand, Fxstreet, has invited James Bibbings President and CEO of Turnkey Trading Partners, Joseph Trevisani, Chief Market Analyst at FX Solutions and representative of the Forex Dealers Commission and Jason Rogers, Ambassador for Online Communities at FXCM and representative of the Forex Dealers Commission, to help us understand the consequences.

Live coverage will start in about 15 minutes at Fxstreet.com home page! Get there if you have questions.

Hourly perspective for majors

Posted: 21 Jan 2010 05:34 AM PST

I prepare the report a bit earlier today, as I will be moderating a special LIVE COVERAGE of CTFC new proposal starting in 30 minutes; here is the major prespective updated for the U.S. session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-01-21.v02.html

Best pair to trade now: AUD/USD

Posted: 21 Jan 2010 04:48 AM PST

Eur/Usd technical view

Posted: 21 Jan 2010 03:32 AM PST

I have to made the chart smaller and smaller to show you the pair’s fall, and even so, we can’t see it all. However, you can see what’s important: pair closed past Wednesday under the 38.2% retracement of the 2009 bullish rally, measured from March lows to November high, exactly around 1.4120. Clearly, pair was unable to regain that zone, and after failling to break higher, we are printing lower lows. Momentum show the pair still strongly bearish, 20 SMA well above current price and bearish, while RSI  shows oversold conditions with very short lived upside corrective movements in the middle; under 1.4030, supports come at 1.4000 and 1.3960. Resistances today lie at 1.4080, 1.4120 and above the 1.4150 area.

CFTC updates/changes document?

Posted: 21 Jan 2010 03:21 AM PST

Funny, proposal is no longer available at CFTC home page, as the original link where the proposal could be found,seems not to work today. Also you could find the same document following a new route:

http://www.cftc.gov/index.htm-> Federal Register Releases -> Proposed CFTC rules -> 75 FR 3281

http://www.cftc.gov/lawandregulation/federalregister/proposedrules/2010/2010-456.html 

http://www.cftc.gov/ucm/groups/public/@lrfederalregister/documents/file/2010-456a.pdf

The page where comments can be left remains available at:

http://www.cftc.gov/lawandregulation/public_comments.html But DATE of the proposal seems a bit different: now says January 20th instead of January 7th. The question here is WHY? Is there CHANGES? or is just a strategy to cold down things?

I will keep on reading and updating this comment!

 

Majors’ sentiment for today

Posted: 21 Jan 2010 02:54 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Bearish

Usd/Chf: Bullish

Usd/Jpy:Slightly Bullish

Eur/Gbp: Slighlty Bullish

Eur/Jpy: Bearish

Gbp/Jpy: Bearish

Starting the day

Posted: 21 Jan 2010 02:47 AM PST

Hi everyone, and welcome back! Despite dollar’s rally has been way overextended, corrections against greenback had been shy and short lived, before greenback regain strength supported by China’s strong economic data that generate speculation Beijing may take further steps to cool its economy, possibly weighing on global equities, commodities and other risk-sensitive assets like the Euro, that fell to 1.4044 and remains around that level,  ready to break lower. Pound finally gave up and also fell strongly, after losing 1.6250 area, after quite negative data come out early Europe, both for the U.K. and the euro zone. 

Today we have the Live coverage of the CFTC new proposal, so pay attention I will be there as moderator, as American laws my friends, are far from my expertise. Yet the idea is to help with the questions that all of us traders, have about this and it’s consequences.

Here is the link for today’s calendar, while I prepare the technical perspectives for today:

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

Have a great day!

 
Posted by at 5:12 PM

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