Posted: 16 Jul 2010 06:33 AM PDT

Here is the hourly perspective updated for US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-07-16.v02.html

Majors’ sentiment for today

Posted: 16 Jul 2010 04:36 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Slightly Bearish

Usd/Chf: Bearish

Usd/Jpy: Bearish

Eur/Gbp:Bullish

Eur/Jpy: Slightly Bearish

Gbp/Jpy:Bearish

Starting the day

Posted: 16 Jul 2010 04:34 AM PDT

Hi everyone and welcome back! Another day, more dollar falls. As I always told you, when trend is there, little or nothing fundamental news can do to it: early data in the euro zone show a strong slump in Italian Trade Balance yet market did not noticed: EUR/USD continues aiming to test at least 1.30 area, if not higher at this point (1.3150 is next key level at least for me).

Pound on contrary, has broke a short term ascendant trend line, should extend the fall from current area, check my earlier report:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-07-16.html

While finally, USD/JPY barely holds above 87.00: expect an acceleration and a strong one, if 86.80 gives up; mostly, because pair is strongly attached to stocks, and today is risk aversion friday