The Advisor Weblog |
- German news
- Hourly perspective for US session
- Mixed US data
- Best pair to trade: EUR/USD
- Majors’ sentiment for today
- Starting the day
| Posted: 07 May 2010 07:24 AM PDT Germany has approved the loans for Greece rescue, yet Euro is still losing ground, approaching 1.2620/30 support area. If 1.2610 gives up, chances of further falls are quite high at this point, with 1.2550/60 and 1.2510 as next supports for the pair.
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| Hourly perspective for US session Posted: 07 May 2010 06:47 AM PDT Here is the hourly perspective updated for current US session:
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| Posted: 07 May 2010 05:33 AM PDT Non farm Payrolls show a strong improve in employment creation, 290K new jobs were added, yet unemployment rate reached 9.9%; I’m seeing now, the poorest reaction to Payrolls I can remember.. seems market is exhausted after yesterdays’ woes. Let’s give market a couple of 15 minutes candles, but dollar seems ready to come back…..
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| Posted: 07 May 2010 03:44 AM PDT Here is the euro technical view http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-05-07.html
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| Posted: 07 May 2010 03:30 AM PDT Majors’ sentiment for today:Eur/Usd: Bullish Gbp/Usd: Bearish Usd/Chf: Bearish Usd/Jpy: Bullish Eur/Gbp: Bullish Eur/Jpy: Bullish Gbp/Jpy: Bullish
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| Posted: 07 May 2010 03:24 AM PDT Hi everyone and welcome back! I don’t know even from where to start today after the wild Thursday we had yesterday. In an environment of extreme risk aversion, and market doubts, mid American afternoon Dow Jones fell 1000 points, while S&P fell 100, and rebounded back up in a few minutes, yet the movement was enough to trigger panic in forex market. EUR/USD fell to 1.2500, GBP/USD to 1.4700, not to mention GBP/JPY or EUR/JPY losing more than 1000 pips intraday; if it was market manipulation, a “fat finger” (many news agencies say someone place a selling order or billions instead of millions) or whatever the cause, the fact is the fact; USD/JPY reached 88.00! Apart from that, we had elections in the UK,with Tories winning with no majority, leading for the already expected hung in parliament, and GBP/USD now at 1.46; and finally we have US payrolls in a couple of hours!. Anyway, never a better time to take a good look at charts. Here is the link for doday’s calendar, While I start with that: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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