Tuesday, May 25, 2010

The Advisor Weblog

The Advisor Weblog

Hourly perspective for US session

Posted: 25 May 2010 06:33 AM PDT

Best pair to trade now:EUR/USD

Posted: 25 May 2010 04:14 AM PDT

Majors’ sentiment for today

Posted: 25 May 2010 03:06 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

Starting the day

Posted: 25 May 2010 03:05 AM PDT

Hi everyone and welcome back. As discussed in the Wrap up webinar, Asian session has been completely drove by sentiment, favoring dollar and yen rises across the board;  this  time, concerns about the health of Spain banking system, as small saving institutions are running for merge to avoid collapse, were enough to trigger the run back to safe havens.  For what I’ve been reading, there should be a lot of restructuring in Spain banking system to keep it floating, and that my friends, will be another stone in Euro shoes. Better than expected industrial production data was just enough to slow down the slump, that anyway reached the 1.2180 area, 30 pips shy of the yearly low. Pound and Aussie suffered along with Euro, of the unwind of high yielding assets, and both are also close to year lows, while Swiss Franc keeps setting fresh ones above the 1.16 level since past Monday.

For today, consolidation and correction rallies seem quite limited, while dollar and yen are both set to continue rising, amid panic selling. Anyway! I will start looking for the technical points rigth now. Here is the link for today's calendar:

http://www.fxstreet.com/fundamental/economic-calendar/

Have a great day!
Posted by at 5:16 PM

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