The Advisor Weblog

Waiting for ISM
Best pair to trade now: GBP/USD
Majors’ sentiment for today
Market is back

Posted: 06 Jul 2010 06:55 AM PDT

Market is just sitting there, waiting for the ISM Non Manufacturing report in the US in about 10 minutes; here is the hourly perspective and the key levles to watch in majors:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-07-06.v02.html

Best pair to trade now: GBP/USD

Posted: 06 Jul 2010 05:20 AM PDT

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-07-06.v02.html

Majors’ sentiment for today

Posted: 06 Jul 2010 03:20 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Slightly Bullish

Gbp/Usd: Slightly Bullish

Usd/Chf: Bearish

Usd/Jpy: Slightly Bullish

Eur/Gbp: Neutral

Eur/Jpy: Bullish

Gbp/Jpy:Bullish

Market is back

Posted: 06 Jul 2010 03:14 AM PDT

Hi all and welcome again to this blog. After we took a holiday yesterday, markets are back: Nikkei opened in Asia more than 1.% down, sending Eur/Usd to test 1.2470 area, while late recovery in Asia and early gains in Europe and US futures, had just pushed the pair to test 1.2600; however, and despite stocks hold gains, pair is unable to continue right now.

Again risk aversion/risk appetite ruled by stocks? Seems so. The brief pause we had past Thursday and Friday in the inverted correlation between stocks and dollar that comes since early 2009, seems not enough to change it. Still I see both Pound and Euro capped by past Friday’s high; watch those levels, a break above should signal further rises ahead in both. Swiss Franc has reached a fresh low around 1.0560 before rebounding strongly up, after SNB yesterday gave first signs of concern about the CHF overreacted strength, yet I don’t think they will be doing any more than talking right now.

Finally USD/JPY is again testing 88.00, yet there we need a break above 88.20/30 zone to see a more interesting upside rally that will confirm the 87.00 reached past week as an interim bottom. We have Services ISM today in the US, a strong data that tends to signal the state of the country economy so pay attention to it. Here is the link for today’s calendar:

Here is the link for today's calendar:

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

Have a great day!