The Advisor Weblog |
- Hourly perspective for US session
- Best pair to trade now: EUR/USD
- Major’s sentiment for today
- Starting the day
| Hourly perspective for US session Posted: 21 Jun 2010 06:37 AM PDT Here is the hourly perspective updated for US session:
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| Best pair to trade now: EUR/USD Posted: 21 Jun 2010 05:07 AM PDT Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-06-21.v02.html
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| Posted: 21 Jun 2010 05:05 AM PDT Majors’ sentiment for today: Eur/Usd: Bullish Gbp/Usd: Bullish Usd/Chf: Bearish Usd/Jpy: Slightly Bullish Eur/Gbp: Bearish Eur/Jpy: Slightly Bullish Gbp/Jpy: Slightly Bullish
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| Posted: 21 Jun 2010 05:03 AM PDT Hi everyone, and welcome back! bit late today, I had stayed part of the Asian session following markets, and particularly, focusing in commodity currencies. With China comments on yuan-peg-dollar reform, market get read of greenbacks pretty fast in past Sunday opening, as we are pricing in way ahead the movements for long time now. European majors managed to erase part of those gains against dollar, and are back close to past Friday’s close, still positive in general. But commodity currencies are holding stronger gains as they are usually more affected by yuan than European ones: a free yuan, would mean a decrease in China exports, yet at the same time a weaker dollar. Besides, no one expects, the movement to be done in 1 day: we should expect a very gradual activity, that dulls effects on exports, as it has been done before. Could also at some point be consider dollar positive, as this will soften current commercial conflicts between both nations. However, with an already weak dollar, chances are of further falls right now. Yen crosses are quite positive, with yen losing ground across the board, still in past weeks range; honestly I was expecting more downside pressure there: still EUR/JPY has been capped by 113.30 resistance zone while USD7JPY under 91.40. Daily close above those levels could support further rises in both. Anyway! let’s start with some technicals, we have no much from the fundamental side today, but a speech from Mr ECB president, Jean Claude Trichet. Have a great trading day!
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