Thursday, February 25, 2010

The Advisor Weblog

The Advisor Weblog

Hourly majors’ perspective for US session

Posted: 25 Feb 2010 06:46 AM PST

Majors’s are developing some corrective movements, while Wall Street is faling strongly; nothing serious yet, no much definitions around. Here is the hourly perspective for current session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-02-25.html

US Durable Orders and employment data

Posted: 25 Feb 2010 05:34 AM PST

Durable Orders rose above expectations to 3.0% while the core reading come out pretty negative at -0.6% from 1.4% past month. Weekly unemployment claims rose to 496K well above expectations; Wall Street futures are sinking and dollar and yen are back on the run.

Best pair to trade now: EUR/USD

Posted: 25 Feb 2010 04:41 AM PST

GBP/USD long term/short term perspective

Posted: 25 Feb 2010 03:38 AM PST

I have been asked about Pound several times these last days, so I made this post to share with you, what I can see in the long and short term. First of all I would like to show you this weekly chart:

 

A double roof formation, with a neck around 1.5770. After breaking under that zone, pair has attempted several times to overcome it, and failed. figure has a heigh of around 1200 pips, meaning target, will be around 1.44 (I tend to reduce that targets, to a 70% of the rally for myself). Now, take a look at the daily chart:

 

 20 SMA remains well above current price, and candles keep printing lower lows, and lower highs, another indication of a bearish trend.  In any of both, pair seems oversold. Now, let’s see what we have for today:

 

Pair is close to daily low, around 1.5270, and still bearish according to momentum. CCI is at the 200 area, but bended, not cutting straight, not giving any sign of a stronger upside corrective moving, thus warning us that the pair could be a bit exhausted. I do see a strong support level around 1.5220/30 area, so if we accelerate again to the downside, that’s a probable downside target/low for today. Corrective movements, will find resistance first, at the 1.5340 area, past week low, followed by the 1.5370/80 zone, and finally 1.5410.

Fed’s Bernanke testimony Live Coverage

Posted: 25 Feb 2010 03:11 AM PST

Majors’ sentiment for today

Posted: 25 Feb 2010 02:44 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Bearish

Usd/Chf: Slightly Bullish

Usd/Jpy: Bearish

Eur/Gbp: Bullish

Eur/Jpy: Bearish

Gbp/Jpy: Bearish

Starting the day

Posted: 25 Feb 2010 02:39 AM PST

Hi everyone and welcome back. Risk aversion is back in full since Asian opening, over the same concerns we have been talking about all the past week and this one: Greece issues hit Euro, while U.K. data showing that business investment in the U.K. fell 5.8% in the last quarter of 2009 making it  a 24.1% drop from the year before, the steepest decline since records began in 1967, send Pound to test 1.5270. Dollar and yen are strongly up, while commodity currencies are holding the ranges of there week. Later today, Core Durable Orders in the U.S. will probably be the center of the attention, and a worse than expected reading will only exacerbate dollar winnings. Anyway, let’s take a look at the bigger pictures today. Here is the link for today’s calendar:

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

Have a great day! 
Posted by at 6:02 PM

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