The Advisor Weblog

Best pair to trade now: USD/JPY
Gbp/Usd near weekly low
Majors’ sentiment for today
Starting the day

Best pair to trade now: USD/JPY

Posted: 22 Jan 2010 05:02 AM PST

Here is my choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-01-22.html

Gbp/Usd near weekly low

Posted: 22 Jan 2010 04:36 AM PST

Pound is falling strongly since Retail Sales disappointing reading. 4 hours charts show pair retreat from 20 SMA has sent the pair back to weekly lows. Despite indicators remain bullish, next candle opening will made both turn down from current levels, supporting further falls. If 1.6110 gives up, pair could extend the fall to 1.6070 area ahead of 1.6020/30. Resistances from here come a 1.6160 and 1.6200.

Majors’ sentiment for today

Posted: 22 Jan 2010 03:18 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Slightly Bullish

Gbp/Usd: Slightly Bullish

Usd/Chf: Neutral

Usd/Jpy: Slightly Bearish

Eur/Gbp: Neutral

Eur/Jpy: Bullish

Gbp/Jpy: Bullish

Starting the day

Posted: 22 Jan 2010 03:14 AM PST

Hi everyone, and welcome back! Finally dollar corrected some of the strong overbought state the currency had, after Obama unveiled the bank reforms. Basically, the reform means the government while limit the investments a bank can do, to avoid bubbles in the future. Let me say something.. quite personal really. with this and CFTC new rules, aren’t we getting there a bit too late?? Meaning why do you think stocks rose almost all 2009? Could it be that banks buy´em? The bubble has already born my friends. Besides, where is the personal rights and freedom America is so proud of? And please don’t want to insult no one, just wondering out loud. M y government is so “awful”, a real reason to be ashamed of, but I live in South America! I think these things happen here! not in the U.S.! Am I being naif again????

Anyway! back to forex, and something more simple and plain! I´ve been reading a couple of comments about divergences, mostly in RSI indicators. Well my friends, after such rally, indicators become useless some times, more these ones that tend to mark cycles, tops, ect., as they saturated either up or down; however, current movement is at this point, just corrective. Majors are down from week opening, could be by risk aversion, Obama, or the WWIII. We are setting lower lows. Let’s take a shorter term look to majors ok?

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!