The Advisor Weblog |
- best pair to trade now II: EUR/USD
- Hourly perspective for US session
- Best pair to trade now: GBP/USD
- EUR/USD technical perspective
- Majors’ sentiment for today
- Starting the day
| best pair to trade now II: EUR/USD Posted: 12 May 2010 07:47 AM PDT Here is my second choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-05-12.v02.html
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| Hourly perspective for US session Posted: 12 May 2010 06:40 AM PDT Here is the hourly perspective for US session; to be honest, not liking market behavior too much today:
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| Best pair to trade now: GBP/USD Posted: 12 May 2010 03:55 AM PDT Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-05-12.html
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| Posted: 12 May 2010 03:04 AM PDT EUR/USD strong bounce from 1.2600 low, has been capped by the resistance area around 1.2750/60, and pair fell quickly back to levels under 1.2700; for what i can see in the 4 hours charts, indicators are just turning back up far from signals while20 SMA is above current price at the mentioned zone, limiting the upside, so pair really needs to clear that up to attempt to gain more ground today; 1.2790 and 1.2820/30 are next levels to watch to the upside. First support now lies at 1.2660, so a break under it, likely to push the pair back down, probably to the 1.2620 area. Under today’s low, next supports come at 1.2550 and 1.2515.
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| Posted: 12 May 2010 02:47 AM PDT Majors’ sentiment for today: Eur/Usd: Bearish Gbp/Usd: Slightly Bullish Usd/Chf: Neutral Usd/Jpy: Slightly Bullish Eur/Gbp: Bearish Eur/Jpy: Bullish Gbp/Jpy: Bullish
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| Posted: 12 May 2010 02:44 AM PDT Hi everyone, and welcome back! while Euro remains under strong pressure having reached 1.2600 intraday low this European session, the pound rallied strongly after the new UK government was announced, reaching 1.5050 resistance area, only to fell back on BOE inflation report just published almost 100 pips, as CPI is seen around 1.4% in 2 years, under the 2% target; the report also adds more fiscal consolidation to be needed, probably the reason of recent sell. Early data in both economies has been quite positive in average, and while Pound has chances of extending the recovery today, Euro seems quite more limited as market remains bearish on the pair. We have a lot of first line data today, so here is the link to the calendar, I will take a good look at euro now: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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