Friday, March 12, 2010

The Advisor Weblog

The Advisor Weblog

Canadian employment data

Posted: 12 Mar 2010 04:18 AM PST

Canada employment data show unemployment rate fell from 8.3% to 8.2% , while 20.9K new jobs were created. USD/CAD fell to an intraday low of 1.0160 and is now correcting slightly to the upside, yet short lived. Some consolidation around this area could be seen, yet pair likely to continue losing ground under mentioned low. Next supports come at the 1.01620area, and then 1.0090 zone. Intraday resistance level are located at 1.0210 and 1.0250.

EUR/CHF: Bearish momentum persist

Posted: 12 Mar 2010 04:09 AM PST

Despite being a slow intraday mover, pair has been in the highlights as continues bearish trend has sent the pair to test 13 months low early this European morning. The pair is clearly showing past 3 months weakness in Euro. Honestly, I don’t believe further SNB intervention could actually turn the trend. First intervention back in March 2009 triggered a 300 pips spike. last one a couple of day’s ago, a 20 pips spike that did not last.  Only way par can change trend, is a quite strong Euro recovery. Watch EUR/USD weekly close above 1.3800, could be a good signal of that.

EUR/CHF  4 hours charts are still bearish and supports for today lie at 1.4580, 1.4550 and 1.4520 areas, while resistances are located at 1.4610 and 1.4640 zone; confirmations above this last should also favor an upside continuation for next week.  

Best pair to trade now: USD/JPY

Posted: 12 Mar 2010 03:47 AM PST

Majors’ sentiment for today

Posted: 12 Mar 2010 03:12 AM PST

Here is majors’ sentiment for today:

Eur/Usd: Bullish

Gbp/Usd:  Bullish

Usd/Chf: Bearish

Usd/Jpy: Neutral

Eur/Gbp: Neutral

Eur/Jpy: Bullish

Gbp/Jpy: Bullish

Starting the day

Posted: 12 Mar 2010 03:07 AM PST

Hi everyone, and welcome! Market finally decided to break the monotony this Friday, and dollar isfalling strongly across the board. Euro approaches to key 1.3800 after general market optimism improved this European morning. As comment on past Daily Wrap Up Webinar, markets has left Greece and other countries debt issues a side for the time to be.  Better than expected Industrial Production data helped the case; dollar is down also against Pound, but Gbp is far from testing 1.5200 key area; only a weekly close above it could change the bearish momentum in the pair. Anyway, I guess we are going to have some quiet now, some small downside corrective movements, and market players will wait for US Retail Sales data in a couple of hours. reading is expected under previous month, so a better than expected data, despite not so positive, could trigger further risk appetite, and intraday trend likely to extend till the end of the American session.

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

Have a great day
Posted by at 5:09 PM

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