The Advisor Weblog |
- Best pair to trade now II: EUR/USD
- Hourly perspective for US session
- Mixed US data
- Gbp/Usd consolidating gains
- Eur/Usd, still seeking for direction
- Best pair to trade now:USD/CHF
- Majors’ sentiment for today
- Starting the day
| Best pair to trade now II: EUR/USD Posted: 11 Mar 2010 07:33 AM PST Here is today’s second choice: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-03-11.v03.html
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| Hourly perspective for US session Posted: 11 Mar 2010 06:38 AM PST Here is the hourly perspective for US session:
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| Posted: 11 Mar 2010 05:43 AM PST US Trade Balance printed a smaller deficit than expected -47.3B also less than previous months. However if my memory is not playing me tricks, “best” deficit of the last 6 years has been of around -25K so only under that value, we can talk of a real improvement in the deficit. Unemployment claims come under previous week, yet above expectations at 462K. Euro attempted to run higher, yet stocks are pressuring down, and dollar and yen are back up against most rivals in this first spike.
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| Posted: 11 Mar 2010 05:30 AM PST Inflation expectatives, helped Pound to gain some ground, and is now consolidating around daily highs. 4 hours charts look pretty bullish at this point thus as expected, 1.5060 resistance area is keeping the upside capped. Pair could now pullback to the 1.5000/10 area, yet as long as those levels hold, a new upside rally is likely. Above mentioned 1.5060, pair should adress to 1.5100 and above 1.5130; however if 1.5000 gives up next zones in line come at strong 1.4940 and 1.4900.
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| Eur/Usd, still seeking for direction Posted: 11 Mar 2010 04:42 AM PST Pair has been moving in a 300 pips range since past February 17th, almost a month consolidating between the 50% retracement (1.3800) and the 61.8% (1.3485) of past year March/November bullish rally. Taking a look at this weekly chart, you will find out how strong indecision is: we have been opening and closing the past 5 weeks almost at the same level: five dojis in a row. I also see kindo fo a rounded floor forming both in charts and indicators, that are saturing at the bottom, also drawing a probable floor that should end up in a reversal, if, and only if, pair manages to close a weekly candle above the 1.3800 mentioned area. Maybe this end of week US data can take as out of this range.. let’s see! Short term speaking, pair has same resistances levels as it has almost all the week: 1.3685, 1.3710 and above 1.3750, while supports form current price come at 1.3640, 1.3610 area and the strong 1.3580.
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| Best pair to trade now:USD/CHF Posted: 11 Mar 2010 03:56 AM PST Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-03-11.v02.html
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| Posted: 11 Mar 2010 02:49 AM PST Here is majors’ sentiment for today: Eur/Usd: Slightly Bullish Gbp/Usd: Slightly Bullish Usd/Chf: Bearish Usd/Jpy: Bullish Eur/Gbp: Bearish Eur/Jpy: Neutral Gbp/Jpy: Bullish
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| Posted: 11 Mar 2010 02:41 AM PST Hi everyone and welcome back! Risk appetite seems to be returning slowly but firmly to currency markets, favoring high yielding currencies mostly this week, or at least halting their falls. Lack of US data has maybe had a lot to do with that yet later today the US Trade Balance, and next Friday’s Retail Sales will bring an interesting close of the week. Anyway, early today, data show UK inflation expectations rose to it highest level since 2008 according to BOE, helping Pound to regain the 1.5000 area; Euro seems comfortable consolidating at yesterday’s high, capped by 1.3685 resistance zone. Here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day
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