The Advisor Weblog |
| Best pair to trade now: EUR/USD Posted: 11 Jun 2010 03:54 AM PDT Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-06-11.html
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| Posted: 11 Jun 2010 03:04 AM PDT Majors’ sentiment for today: Eur/Usd: Slightly Bullish Gbp/Usd: Slightly Bearish Usd/Chf: Bearish Usd/Jpy: Bullish Eur/Gbp: Bullish Eur/Jpy: Slightly Bullish Gbp/Jpy: Neutral
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| Posted: 11 Jun 2010 02:59 AM PDT Hi everyone, and welcome to this blog! Friday is seeing a modest slow down of risk appetite/optimism, and majors are consolidating yesterday’s gains. Euro holds above the 1.2100 level and the descendant daily trend line broken yesterday, still capped by the 1.2150 area previous yearly low. Pound aapproached to past week high, yet gave up ground on worse than expected industrial data: manufacturing production come out -0.4% against 2.2% previous month. Industrial production also was quite negative, and we have GBP/USD under 1.4700, still quite positive in the week. Funny, I was reading about reversals, trend changes in Euro, at the same time I’m reading the crisis is just starting and the risk of double dips are there. For me, a correction is not a trend change, and despite our poor friend the euro is oversold against a several number of majors and deserves some stronger bullish movements, is not that charts are giving a lot of sings of that about to happen. Anyway! is just my idea. We have Retail Sales today in the US, and Friday’s lately had been risk aversion days, so could be an interesting end of the week. Watch commodity currencies as again their are leading the way. Here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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