The Advisor Weblog |
- Hourly perspective for US session
- EUR/USD technical perspective
- Best pair to trade now: GBP/USD
- Majors’ sentiment for today
- Starting the day
| Hourly perspective for US session Posted: 11 May 2010 06:36 AM PDT Here is the hourly perspective updated for US session:
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| Posted: 11 May 2010 05:23 AM PDT EUR/USD is still capped by 1.2700 area, 23.6% retracement of the last daily bearish rally. But take a look at the 4 hours charts, indicators remain bearish, 20 SMA above current price also limits the upside in the pair, yet 1.2660 is quite a strong support area; we need to clear it with much more volume than the one we have right now, to see pair extending the fall to 1.2620 area; next support comes aty 1.2570 zone; resistances today lie at 1.2720, 1.2760 and 1.2790/1.2810 zone.
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| Best pair to trade now: GBP/USD Posted: 11 May 2010 03:39 AM PDT Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-05-11.html
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| Posted: 11 May 2010 02:55 AM PDT Majors’ sentiment for today: Eur/Usd: Bearish Gbp/Usd: Bearish Usd/Chf: Bullish Usd/Jpy: Bearish Eur/Gbp: Bearish Eur/Jpy: Bearish Gbp/Jpy: Bearish
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| Posted: 11 May 2010 02:45 AM PDT Hi everyone, welcome back. Ok, excitement and euphoria receded past American session, as market players take notice the super bailout plan is far from being a long term solution to euro zone woes. I told you that early morning, but seems market prefers to hear it coming from an IMF member Jokes a side, despite a strong recovery in globalstocks markets, euro fell strongly from the 1.3100 area, where it completed the pullback to the long term trend line, and is now breaking under 1.2700, really aiming lower. Pound lost its’ bullish tone, as PM Gordon Brown decided to step down as his party leader in the UK (seems he refuses to form a coalition with the other parties), and with the two European falling, dollar took it’s chance raising across the board. Commodity currencies are holding better, as gold and oil have a bullish tone. What’s also important to remark, is that market is a bit more quiet today, with no crazy jumps still; let’s see if it last. Anyway! Here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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