The Advisor Weblog

Posted: 27 Jul 2010 06:44 AM PDT

Majors bounced from the levels mentioned earlier, and dollar is aiming to come back after a better than expected housing price report; here is the hourly perspective updated for majors:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-07-27.v02.html

Starting the day

Posted: 27 Jul 2010 05:35 AM PDT

Hi everyone, and welcome back! late late but here ;). Was thinking yesterday afternoon, that while some traders and even a college blogger here had a blog of “trading around the job day” that if i have to describe my life style, is “trading around the family”. I have been thinking so much about that along the years “What’s more important? Family or work, work or family?” Seems pretty obvious when it’s cold writing in a blog, yet all the sentiments we humans have, the aims of success, the love for our ones, made things a bit more complicated. Anyway, only when you lose someone, you realize how important was; I have decided so long ago that that’s something that won’t happen to me: I live my life to the fullest with my loved ones, as each day is meant to be the last; never regret anything, and will never put myself in a position to do so. Some could agree with that personal choice, some don’t but is something that mades me proud of myself. Anyway!! I want to THANK YOU ALL and FXSTREET.COM team, for the HUGE support these days, when my dad fight for his life; he is ok now, still delicated, but the worst is over, so life goes on. I have not enough words to thank all of you that send best wishes for us.

I’m oversleeping these days, seems the emotional stress was too much and I needed some rest, but i’m back, and hopefully, tomorrow I will be again able to wake up with Europe.

Back to Forex! As we talk about in the weekly opening Live Coverage, market attention is now focused in Dollar weakness. We have no stress in Europe, no sovereign debt, all is clear! America however, is in big risk of a double dip. Could sound simple, but seems that’s what market is thinking and we cannot go against it. Euro and Pound set fresh highs, Aud and Cad also are running higher, thus facing some levels right now, that could at least halt the rally: watch the behaviour of those 2 that tend to lead the way:

USD/CAD is testing a daily ascendant trend line, coming form 0.9930 lows: an acceleration or confirmation under this 1.0250/60 area, should signal further dollar falls.

AUD/USD is fighting with 0.9070, also strong level: bunch of daily highs and lows in there, plus the last Fibo retracement of the 0.93/0.80 fall: the 76.4% if above, an approach to 0.94 seems likley, more with rumors of a rate hike next week hitting the wires.

I will prepare the US session report rigth now, for majors.

Here is the link for today's calendar:

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

Have a great day!