The Advisor Weblog

Hourly perspective for majors’
Best pair to trade now:USD/CHF
GBP/USD above double bottom neck line
Majors’ sentiment for today
Starting the day

Posted: 12 Apr 2010 06:45 AM PDT

Here is the hourly perspective for majors’ updated. Dont forget to look stocks, as will risk appetite likely to dominate forex market today: Wall Street opened near past Friday’s close, yet tending higher in this first 15 minutes.

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-04-12.html

Best pair to trade now:USD/CHF

Posted: 12 Apr 2010 03:59 AM PDT

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-04-12.html

GBP/USD above double bottom neck line

Posted: 12 Apr 2010 03:42 AM PDT

Gbp rallied on general sentiment, and moving above strong resistance area, 1.5380 zone, where we have the neckline of the daily double bottom in the pair. Zone is our first support for next hours. I do believe that even a spike to 1.5330, next support area, won’t be harmful to this new borrn trend, if pair rebounds on this last. 4 hours charts are showing indicators a bit exhausted, but price consolidating gains, keepinf the downside limited; resistances today, lie at 1.5450, 1.5490 and 1.5520 strong zone.

Majors’ sentiment for today

Posted: 12 Apr 2010 02:58 AM PDT

Majors’ sentiment for today:

Eur/Usd: Bullish

Gbp/Usd:Slightly Bullish

Usd/Chf: Slightly Bearish

Usd/Jpy: Bullish

Eur/Gbp: Slightly Bearish

Eur/Jpy: Bullish

Gbp/Jpy: Bullish

Starting the day

Posted: 12 Apr 2010 02:56 AM PDT

Hi everyone and welcome back! A different start of the week no doubts, with markets confidants and willing to go for the riskier assets, after the EU announce a rescue plan for aiding Greece that includes details about how much and at which rate, loans could be made: euro zone finance ministers said they would offer as much as 30 billion euros in 3 years loans in 2010 at around 5%. That’s less than the current three-year Greek bond yield of 6.98% while another 15 billion euros would come from the IMF. Euro leads the way today, after gaping around 150 pips at the opening, and holding above 1.3600 after closing around 1.3490 past Friday. Short covering in crosses is pushing Aussie, Swissy and Yen down, while stocks markets are set for a strong opening later today, pressuring further dollar and yen.

Anyway, we have some fundamental reports today, so here is the link for the calendar, while I take a look at the technicals:

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

Have a great day!