The Advisor Weblog |
- Euro slumps on more downgrades
- Best pair to trade now II: EUR/USD
- Hourly perspective for US session
- Beware of Euro
- EUR/USD technical perspective
- Best pair to trade now EUR/JPY
- Major’s sentiment for today
- Starting the day
| Euro slumps on more downgrades Posted: 28 Apr 2010 08:36 AM PDT Eur/Usd fell to a fresh year low as S&P downgraded Spain to AA, with a negative outlook, reaching the 1.3130 support zone. Angela Merkel comments past with no news as we hear more of the same; risk of further Euro falls are here, udner the low, watch for 1.3075 as next downside target for the pair.
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| Best pair to trade now II: EUR/USD Posted: 28 Apr 2010 07:52 AM PDT Here is my second choice for today, waiting for FOMC: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-04-28.v02.html
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| Hourly perspective for US session Posted: 28 Apr 2010 06:33 AM PDT Here is the hourly perspective updated:
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| Posted: 28 Apr 2010 05:29 AM PDT Pair has triggered some stops above daily high, and reached the 1.3240 level in a blink, thus I don’t still feel too much confident on a continuation: rumors and more rumors hit the wires: that Angela Merkel will announce an extension of the loans to 90 Billions, that the ECB will directly be forced to buy Greece debt, any of both will be good for the hegemonic currency, at least for me. Market is quite nervous, perfect moment to go for a cup of coffee.
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| Posted: 28 Apr 2010 04:31 AM PDT Taking a look at the hourly chart, pair seems to have formed a double bottom around 1.3140, with the daily high of 1.3217 as neck line of the formation; is a small figure, nothing that could made of this 1.3140 an important support area, yet for intraday trading, could be a bit more meaningful: indicators had a slightly bullish perspective, while current candle is above 20 SMA that lost part of it’s bearish slope; above mentioned level, pair could extend the correction to next resistance area, around 1.3250, 38.2% retracement of past daily fall. Above it, next resistance lies at the 1.3290 zone; supports now, come at 1.3180 and 1.3140 lows, while I see a stronger one very close around 1.3120: if we lose this one, next in line is 1.3075.
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| Best pair to trade now EUR/JPY Posted: 28 Apr 2010 04:23 AM PDT Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-04-28.html
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| Posted: 28 Apr 2010 03:39 AM PDT Majors’ sentiment for today: Eur/Usd: Bearish Gbp/Usd: Bearish Usd/Chf: Bullish Usd/Jpy:Bullish Eur/Gbp: Bullish Eur/Jpy: Slightly Bullish Gbp/Jpy: Slightly Bullish
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| Posted: 28 Apr 2010 03:34 AM PDT Hi everyone, and welcome to this blog. It took S&P to downgrade sovereign credit qualifications for both Portugal and Greece, to made Euro succumb past American session, to levels not seen since April 2009 at 1.3144. Recovery attempts had remained capped by 1.3220 for now. I do see that most of this madness could be blamed on ECB, that don’t want to restructure Greece debt: yesterday, it was paying 20%, really outrageous. We have a speech from Angela Merkel around 14:45 GMT rumors say, she will announce an increase in Greek aid package, but let’s see! Pound slump has no real reason but the need of investors to run back to safety; we read now concerns about hung in Parliament, thus really nothing new right? Anyway! let’s start with a bit more technical! Here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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