The Advisor Weblog

Hourly perspective for majors
Mixed U.S. Data
Best pair to trade now: GBP/USD
Eur/Usd technical perspective
Majors’ sentiment for today
Starting the day

Hourly perspective for majors

Posted: 18 Feb 2010 06:33 AM PST

Here is the hourly perspective for majors for current American session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-02-18.v02.html

Mixed U.S. Data

Posted: 18 Feb 2010 05:36 AM PST

American data is here, and results seem less negative that current market reaction: Wall Street futures are falling strongly, due to strong rise in weekly unemployment, to 473K form 440K past week. Both inflation readings, PPI and Core PPI are slightly up, yet far from suggesting a rate hike in the short term. First market reaction seems of risk aversion, with dollar and mostly yen appreciating fast.

Best pair to trade now: GBP/USD

Posted: 18 Feb 2010 05:22 AM PST

Here is my choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-02-18.v02.html

Eur/Usd technical perspective

Posted: 18 Feb 2010 04:43 AM PST

Eur/Usd retreat from 1.3800, has sent the pair closer to past week low, capped now under the 1.3600 area; 4 hours charts show pair has lost strength to the downside, yet remains bearish, consolidating. Watch for the 1.3530 support, it will be key as next in line cones the 1.3490 area, 61.8% retracement of past year rally. Should not give up easily, yet if it does, i would expect an acceleration further down to 1.3440. Resistances today lie at the 1.3600 zone, 1.3640 and higher but not seen, at 1.3680.

Majors’ sentiment for today

Posted: 18 Feb 2010 04:09 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Bearish

Usd/Chf: Bullish

Usd/Jpy: Slightly bearish

Eur/Gbp: Slightly bearish

Eur/Jpy: Bearish

Gbp/Jpy: Bearish

Starting the day

Posted: 18 Feb 2010 04:01 AM PST

Hi everyone and welcome back! Despite yesterday’s Wall Street rise, the Nikkei failed to follow trough: opened higher bit lost ground to close the day negative, helping dollar and yen to regain even more ground; Japanese yen also was favored by BOJ Minutes, that remained the same: no change in rates, no change in statement. Finally the announcement coming from the MFI that they are ready to sell another 193 ton of gold, sent the metal down, also favoring dollar.

Euro and Pound are testing past week lows, so I will take a good look at charts and start posting. Here is the link for today’s calendar:

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

Have a great day!