The Advisor Weblog |
| Best pair to trade now: EUR/USD Posted: 20 May 2010 03:29 AM PDT Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-05-20.html
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| Posted: 20 May 2010 03:22 AM PDT Majors’ sentiment for today: Eur/Usd: Bearish Gbp/Usd: Bearish Usd/Chf: Slightly Bearish Usd/Jpy: Slightly Bearish Eur/Gbp: Bullish Eur/Jpy: Neutral Gbp/Jpy: Neutral
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| Posted: 20 May 2010 03:19 AM PDT Hi everyone, and welcome back! As comment yesterday corrections do happen; and for me, that’s all what we saw in euro yesterday, a strong one, and nothing else. Pair remains capped by the 1.2440/60 strong area Imention several times in the blog, and webinars, and is retreating from that zone, unable to extend the rally. I was really thinking Asian players were ready to do so, but well, i was wrong. Pound behaviour was same as lately, that is just following Euro. SNB intervention in the EUR/CHF had a lot to do with the strong rally in Euro also, but as usual, it’s not lasting too much; if EUR/CHF resumes bearish trend and approaches back to the 1.40, chances are of a new leg lower there; anyway! Swissy also has room to correct to the downside, and yen remains quite strong on risk aversion environment, and I still see it heading higher, so crosses are heading lower. We don’t have too much news today, but we do have some so here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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