The Advisor Weblog

Hourly perspective for US session
Best pair to trade now: EUR/USD
Pound limited by disappointing data
Majors’ sentiment for today
Starting the day

Hourly perspective for US session

Posted: 17 Jun 2010 06:47 AM PDT

Here is the hourly perspective, updated for the US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-06-17.v02.html

By the way! Argentina 4 - Korea 1

Best pair to trade now: EUR/USD

Posted: 17 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/2010-06-17.v02.html

Pound limited by disappointing data

Posted: 17 Jun 2010 03:15 AM PDT

Despite the strong spikes we are seeing across the board, Pound is hovering around 1.4800 area, after disappointing CBI Industrial expectations data, worse than expected at -23, compared to previous month reading of -18.

Still not far away from weekly highs, 4 hours charts show pair back above 20 SMA, yet with indicators losing bullish strength. Pair needs to break above 1.4860 area, to extend the rally to key 1.4920 zone, while under 1.4760/70 support, next in line come at 1.4720, and 1.4650 area, already tested past Asian session.

Majors’ sentiment for today

Posted: 17 Jun 2010 03:08 AM PDT

Majors’ sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Bullish

Usd/Chf: Bearish

Usd/Jpy: Neutral

Eur/Gbp: Bullish

Eur/Jpy: Slightly Bullish

Gbp/Jpy: Slightly Bullish

Starting the day

Posted: 17 Jun 2010 03:07 AM PDT

Hi everyone, and again a bad day, but this time for dollar . Greenback is falling strongly across the board,kick started by CHF, after the SNB affirmed that Swiss economy is strong enough to cope with a strong Swiss Franc. Yet market attention is focused in Spain right now, and the stress test of it’s banking system to be release shortly; optimism about the results, and the recent strong demand for Spanish bonds is boosting Euro, that approaches to 1.2400. USD/CHF sunk to 1.1120 and both pairs seem extremely over extended in smaller time frames; not that a correction is seen, yet despite trend is clear, not the right time to follow it; just wait for pullbacks.

Pound holds above 1.4800, still under weekly high, while USD/JPY is dead. However, commodity currencies, AUD and CAD had take there chances to accelerate also against dollar, with AUD at a fresh weekly high, around 0.8670, and Canadian dollar at 1.0240. This last, boosted also by crude price, as the barrel continues rising, approaching to $78.00.

The stress test however has not been published yet, so keep your eyes open. Here is the link for today’s calendar:

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

Have a great day!