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- Hourly perspective for US session
- EUR/USD, just the trend line
- Best pair to trade now: GBP/USD
- Starting the day
| Hourly perspective for US session Posted: 10 Aug 2010 06:39 AM PDT Seems dollar momentum is ready to extend across the board… until FOMC. Will be a buy the rumor sell the news? I’m thinking of it. here is the hourly perspective updated for current US session:
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| Posted: 10 Aug 2010 05:14 AM PDT I have been following EUR/USD above this trend line, coming from July 1st since already a couple of weeks. Pair broke it, complete the pullback and is aiming to break under 1.3125, next and last strong support. (The 38.2% retracement, the big Fibo from 1.5140 to 1.1870) So what could happen if that last one gives up? I do suspect a sell off, as many stops should be gathered there; 1.3080 is next in line, as the pair seems a bit overextended to the downside, yet daily close under 1.3100 should made the bullish trend tumble.
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| Best pair to trade now: GBP/USD Posted: 10 Aug 2010 04:47 AM PDT Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-08-10.v02.html
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| Posted: 10 Aug 2010 04:45 AM PDT Hi everyone and welcome back! Dollar continues rising, extending yesterday’s gains ahead of FOMC meeting. Really, is this profit taking, squaring positions, or what? I do believe a bit of both, as market is not really sure what the FED will do today. and educated guess is we are waiting from some more asset purchases, or another form of liquidity injections. Anyway! let’s start with some technicals, as Pound is approaching to my break down level! Here is today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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