The Advisor Weblog

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• Hourly perspective for US session
• EUR/USD after US data
• Best pair to trade now:USD/CHF
• Majors’ sentiment for today
• Starting the dat

Hourly perspective for US session Posted: 18 May 2010 06:31 AM PDT Here is the hourly perpsective updated for the US session: http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-05-18.v02.html

EUR/USD after US data Posted: 18 May 2010 05:41 AM PDT US data come out worse than expected, with PPI -0.1% and building permits at 0.61M against 0.69M previous month; stocks are down, and so do EUR/USD testing 1.2400 after retreating form 20 SMA in the 4 hours chart. indicators are losing previous bullish strength thus pair needs to lose 1.2360/70 support zone to trigger a more interesting bearish rally, probably to 1.2320/30 zone. Resistances today are at 1.2450 1.2490 and 1.2520 zone.

Best pair to trade now:USD/CHF Posted: 18 May 2010 04:00 AM PDT If corrections are meant to extend, I will rather go with Swissy than with Euro, more logical choice due to poor euro stress. Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-05-18.v02.html

Majors’ sentiment for today Posted: 18 May 2010 03:42 AM PDT Majors’ sentiment for today: Eur/Usd: Bullish Gbp/Usd: Bearish Usd/Chf: Bullish Usd/Jpy: Slightly Bullish Eur/Gbp: Bullish Eur/Jpy: Bullish Gbp/Jpy: Slightly Bullish

Starting the dat Posted: 18 May 2010 03:40 AM PDT Hi everyone, and welcome back! quiet Asian session favored more corrections in Euro after reaching the 1.2250 low yesterday, and despite worse than expected early data regarding Trade Balance and ZEW economic sentiment survey, hegemonic currency continues it’s bullish corrective movement, having overcome yesterday’s high just now. Pound rose to key 1.4520 area after higher than expected inflation data, thus quickly lose momentum and eased back, thus market won’t ignore the data in the term. Seems we are having a dollar bearish day, as also stocks are in the mood to rise; anyway! here is the link for today’s calendar, while I start with the technical views: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!

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