The Advisor Weblog |
- Hourly perspective for US session
- US Trade Balance
- Best pair to trade now: GBP/USD
- Majors’ sentiment for today
- Fire! Fire! ups, risk aversion again
| Hourly perspective for US session Posted: 11 Aug 2010 06:35 AM PDT Here is the hourly perspective updated for the US session:
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| Posted: 11 Aug 2010 05:34 AM PDT US Trade Balance come out worse than expected, and worse than previous month reading at -49.9B. Not much of a reaction yet across the board, just USD/JPY pushing lower. Data is disappointing, and with current risk aversion enviroment, we could see furhter falls in the cross. Euro and Pound are recovering ground, seems not all is lost for European currencies.
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| Best pair to trade now: GBP/USD Posted: 11 Aug 2010 04:59 AM PDT Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-08-11.html
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| Posted: 11 Aug 2010 04:58 AM PDT Here is the majors’ sentiment for today:Eur/Usd: Bearish Gbp/Usd: Bearish Usd/Chf: Neutral Usd/Jpy: Bearish Eur/Gbp: Bearish Eur/Jpy: Bearish Gbp/Jpy: Bearish
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| Fire! Fire! ups, risk aversion again Posted: 11 Aug 2010 04:54 AM PDT Hi everyone, and welcome back! No doubts, Bernanke knows how to do things. With some extra QE measures to save the US of a double dip, market entered in risk aversion mode: as we comment past Asian webinar, European opening was the key: stocks are down, dollar and yen up, with yen crosses running lower: USD/JPY has set a fresh 15 years low, and remains capped under 85.00. That means usually that further fall will be seen in the pair. No explosions at 84.80: no intervention from BOJ no big buying orders triggered. Watch for further downside there. Pound is recovering some ground after testing the 38.2% retracement we followed all over yesterday. Will post a more specific analysis for it. Our poor friend Euro, lost the trend line, and the 1.3125 support, and seems for good. We are hovering around 1.3000; rally is a bit overextended, so we need some consolidation/corrections before a new leg down. And the day is still young! we have US Trade Balance in a few minutes, another lite reports, and employment monthly data in Australia later today. Here is today's calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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