Wednesday, March 3, 2010

The Advisor Weblog

The Advisor Weblog

Best pair to trade now: USD/CAD

Posted: 03 Mar 2010 07:57 AM PST

Choppy session, dollar remains bearish thus is not moving with strength. Here is another choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-03-03.v03.html

Hourly majors’ updated for US session

Posted: 03 Mar 2010 06:35 AM PST

Dollar after ADP

Posted: 03 Mar 2010 05:22 AM PST

Dollar remains under pressure after ADP figures at -20K, better than previous -22K above expectactions of -15K. Majors are again attemtping to break higher against greenback, while gold and oil are close to daily highs. Let’s see if movement dares to gain some momentum.

Best pair to trade now:USD/CHF

Posted: 03 Mar 2010 03:45 AM PST

EUR/USD technical perspective

Posted: 03 Mar 2010 03:14 AM PST

Pair upside rally failed to break the daily descendant trend line around 1.3650, despite having tested several times already. Technical indicators remain quite flat, giving no clear direction to the pair after long consolidative range. We need to see a candle opening above mentioned level, to confirm some further upside acceleration, to the 1.3700 area, top of the range. Above it, pair could gain further upsdie momentum as that’s the neck roof of the range since past Feb 18th. first support comes at the 1.3580 strong area, ahead of 1.3530 and 1.3490 zone.

 

Majors’ sentiment for today

Posted: 03 Mar 2010 02:34 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Slightly bullish

Gbp/Usd: Slightly bullish

Usd/Chf: Slightly bearish

Usd/Jpy: Bearish

Eur/Gbp: Neutral

Eur/Jpy: Neutral

Gbp/Jpy: Slightly bullish

Starting the day

Posted: 03 Mar 2010 02:30 AM PST

Hi everyone and welcome back. Time for  corrections for European majors started past Asian session, with Pound jumping quickly above 1.5000 and Euro holding above the 1.3600 area, as commodity prices hold gains and extend rallies. Dollar is losing ground even against Japanese yen, meaning we are not seeing a risk sentiment movement. However, early data in Europe show euro zone, PMI come under expectations, while retail sales for the union printed an expected fall of 0.3%. Greek authorities present a new austerity plan that will help em raise around 4.8B, by spending cuts and tax increases. Will also include a cut in salary bonuses and a freezing of state pensions, and unions in the country already announce another strike for March 16th. That helped keep the currency in past weeks range, no real change in the midterm perspective there.

UK data show services PMI jumped more than expected in February, helping Pound to hold early gains above 1.5000, yet failed to trigger another leg up. Anyway, majors seem to have settle down a bit, consolidating last movements. Let’s take a look at technicals and see what we get from there. Here is the link for today’s calendar:

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

Have a great day! 

 
Posted by at 6:25 PM

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