The Advisor Weblog |
- Hourly majors’ perspective
- Eur/Usd: fresh low, back in range
- Best pair to trade now: USD/CAD
- Majors’ sentiment for today
- Starting the day
| Posted: 02 Mar 2010 05:37 AM PST Here us the hourly majors’ perspective updated:
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| Eur/Usd: fresh low, back in range Posted: 02 Mar 2010 04:27 AM PST Pair has reached (again!) the 1.3440 area, and rebounded (again!) from that levels strongly, despite setting a fresh low. Seems we have some big player interested in buying the currency around that zone. Anyway, pair is mostly range bound, with 4 hours charts slightly bearish, yet mostly flat, with no clear direction coming from the indicators. Resistances today lie at the 1.3580 area, and 1.3610 level, ahead of a short term descendant trend line around 1.3650. Supports again, are located at 1.3530, 1.3490 and the 1.3440 area.
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| Best pair to trade now: USD/CAD Posted: 02 Mar 2010 03:51 AM PST Here is my choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-03-02.v02.html
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| Posted: 02 Mar 2010 03:24 AM PST Here is majors’ sentiment for today: Eur/Usd: Bearish Gbp/Usd: Bearish Usd/Chf: Slightly Bullsih Usd/Jpy: Bearish Eur/Gbp: Slighlty Bullish Eur/Jpy: Slightly Bearish Gbp/Jpy: Bearish
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| Posted: 02 Mar 2010 03:18 AM PST Hi everyone and welcome back. Interesting developments in Asia session, starting with RBA raising rates to 4.0% but softening the tone of their statement: growth positive but slow due to global economy issues, inflation likely to match expectations,, and finally, RBA Gov. Glenn Stevens said that concerns over “some sovereigns remain elevated,” and that fiscal problems in Europe and elsewhere threaten the global economy. As expected, AUD upside was limited after market priced in the rate hike, yet the downside get exposed by the slightly dovish comments. European majors have been mostly under pressure despite positive tone in stocks for the last two sessions, while Canadian dollar is the overall winner today, ahead of rate decision. Early data in Europe and England has been overall negative, favoring risk aversion and dollar and yen as usual. Seems market tone won’t change today. Here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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