The Advisor Weblog

Euro slump continues
Hourly perspective for US session
Majors’ sentiment for today
Another day, another Euro slump

Posted: 22 Apr 2010 07:07 AM PDT

As expected, Euro slump continues and pair is barely 30 pips above the yearly low; technical indicators show rally way over extendend, yet at this point, that is just telling me pair should halt here, and maybe correct a bit to the upside. Wall Street falling, gold falling, and in general risk aversion sentiment won’t let it rise to much. Despite technicals, I’m not ready to discard a run to 1.3250 lows. Corrections should remain capped in between 1.3310 and 1.3330 area now. If pair test lows again, get ready for another leg lower.

Hourly perspective for US session

Posted: 22 Apr 2010 06:41 AM PDT

Here is the hourly perspective updated:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-04-22.v02.html

Majors’ sentiment for today

Posted: 22 Apr 2010 04:54 AM PDT

Majors’ sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Slightly Bearish

Usd/Chf: Bullish

Usd/Jpy: Bearish

Eur/Gbp: Bearish

Eur/Jpy: Bearish

Gbp/Jpy: Neutral

Another day, another Euro slump

Posted: 22 Apr 2010 04:49 AM PDT

Hi everyone! that I been a bearish in euro since long time now, is no secret if you follow my blog, or my live coverages. Despite I again know that dollar has no real strength yet to gain so strongly, I still do affirm that there is no reason to revert the idea that poor Euro is the weaker currency of the board; as so, Aussie remains the stronger. Not a big fan of trading the crosses, I do always keep an eye on them to help me understand the market forces. And rigth now,EUR/AUD is 50 pips away form a multi years low, reached early April. Today, news that euro zone budget deficit for 2009 is more than 2 times toe 3% “acceptable” send euro diving against major rivals. Maybe by the end of the day we could attempt some short term counter trend trades, but no now… nop!

Anyway, let’s see what the market have for today. In the midtime, here is the link for today’s calendar:

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

Have a great day!