Monday, March 15, 2010

The Advisor Weblog

The Advisor Weblog

GBP/USD techical perspective

Posted: 15 Mar 2010 05:11 AM PDT

GBP/USD fell strongly early Europe, as comment on the first post of the day. Technically speaking, 4 hours charts show strong bearish momentum in the pair, with current candle correcting slightly to the upside, yet capped under 20 SMA; first strong resistance area comes at the 1.5070 area, where we can find a several number of candles highs and lows, including current one. Only an acceleration above it, could favor further intraday raises, with next resistance levels at 1.5110 and 1.5160 zone. As long as capped by mentioned resistance area, downside remains exposed with supports for next hours at the 1.5110 zone, today’s low, followed by 1.4980 and 1.4930.

Best pair to trade now: EUR/USD

Posted: 15 Mar 2010 05:01 AM PDT

Majors’ sentiment for today

Posted: 15 Mar 2010 03:59 AM PDT

Here is majors’ sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Bearish

Usd/Chf: Slightly Bullish

Usd/Jpy: Slightly Bullish

Eur/Gbp: Bullish

Eur/Jpy: Neutral

Gbp/Jpy: Bearish

Starting the day

Posted: 15 Mar 2010 03:57 AM PDT

Hi everyone and welcome back! What has been a quiet start of the week past Asian session, with majors consolidating close to past Friday’s highs, turned to be another ride of risk aversion that end favoring dollar early Europe. As comment during the Live Weekly Opening Coverage, here at Fxstreet.com, there was little chances to see pound above 1.5200/30 resistance area, and after failing to break higher, the currency slump to current 1.5030 area, while euro retreat from 1.3780 highs. Euro also falling strongly against major rivals, testing multiyear lows against Cad, and Swissy, who happens to be the stronger currencies of the board at this time. Warnings from the BOE regarding unemployment could continue to climb as economy recovers, favor the cable fall; I really have nothing to add about Euro, as I do believe that both technically and fundamentally, has no reasons to rise. The debt crisis in Greece, Spain and Portugal is wellknown to come again over it, and 1.3800 is my midterm resistance inflection point (50% retracement of past year March/November rally).

This will be I hope, a more interesting week full of fundamental data that includes FOMC; here is the link for todays’ calendar, while i take a look at technicals.

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

Have a great day!
Posted by at 5:28 PM

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)