The Advisor Weblog |
- EUR/USD, back under pressure
- Hourly perspective for US session
- US data and stocks
- EUR/USD, technical view
- Best pair to trade now: GBP/USD
- Majors’ sentiment for today
- Starting the day
| Posted: 22 Jun 2010 07:49 AM PDT What can I say? I still see Euro falling with some delay, yet still bearish: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-06-22.v02.html Pound soar despite strong budget cuts announced, and reached target area around 1.4820. should remain under today’s high and break under 1.4770 to extend the downside today.
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| Hourly perspective for US session Posted: 22 Jun 2010 07:11 AM PDT Here is the hourly perspective updated for US session:
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| Posted: 22 Jun 2010 07:04 AM PDT Stocks opened with a strong note, sending dollar lower against major rivals, thus market was waiting for US data to decide dollar destiny; data is here and quite mixed as existing home sales come out under expectations and even under part month readings around 5.66M, while Consumer confidence improved to -17 from -18. Stocks turned to the downside and start falling as well as euro and pound after the data. first spike is risk aversion one, let’s see if it last.
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| Posted: 22 Jun 2010 05:12 AM PDT Broken trend line, bearish indicators, and price under 20 SMA, all suggest furhter downside pressure for Euro, if under 1.2240, first static support area, where we can see several 4 hours lows/highs and the 38.2% retracement of last bullish daily rally; under that level, 1.2200 has probe to be quite strong should hold the downside, yet if we break lower, pair could extend to 1.2160 where extrmee oversold conditions should offer some upside rebound. Resistances now are at 1.2285, 1.2310 area and 1.2350, not seen at this point.
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| Best pair to trade now: GBP/USD Posted: 22 Jun 2010 04:05 AM PDT Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-06-22.html
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| Posted: 22 Jun 2010 03:25 AM PDT Majors’ sentiment for today: Eur/Usd: Slightly Bearish Gbp/Usd: Slightly Bearish Usd/Chf: Slightly Bullish Usd/Jpy: Bearish Eur/Gbp: Bearish Eur/Jpy: Bearish Gbp/Jpy: Bearish
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| Posted: 22 Jun 2010 03:24 AM PDT Hi everyone, and welcome back! Yesterday evening, late America early Asia, watching Euro, and old Van Halen’s song come to my mind “… wherehave all the good time gone?…” Not that good times were gone, just Sunday optimism evaporated again in Monday, as happened several times in the past 2 or 3 months. Euro is back under strong pressure out of nowhere, as besides falling stocks yesterday, there where no strong reasons for such fall; EUR/AUD is back approaching to all time lows, EUR/CHF set a fresh one, and EUR/JPY is again testing 111.00. Pound continues trading on euro woes, following sentiment rather than anything else, while commodity currencies hold gains against greenback, with oil and gold again strongly up. Yen lose some ground yesterday, but is back pushing higher, lacking strength but no trend: yen crosses hold a bearish tone since past May, and despite choppy or range bound, rallies to the downside are always much more stronger and quick than the other way. Early data today, quite disappointing in Europe, show a strong deficit in European current account despite some positive readings in the IFO survey,with EUR/USD capped under 1.2300; next support in line, strong one, comes at 1.2240, will be placing the chart in a couple of minutes. in the midtime, here is today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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