The Advisor Weblog

Hourly perspective for US session
US data disappoints big
GBP/USD technical perspective
Best pair to trade now: AUD/USD
Majors’ sentiment for today
Starting the day

Hourly perspective for US session

Posted: 19 Aug 2010 06:43 AM PDT

Here is the hourly perspective for US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-08-19.html

US data disappoints big

Posted: 19 Aug 2010 05:34 AM PDT

US data is quite negative, with unemployment claims reaching 500K, really bad reading. Minor data from Canada such as Wholesales come also negative, at -0.3% compared to previous month -0.1%. Stocks slumped on news, and USD/JPY follows: pair is approaching to 85.10 support zone. More US pessimism, dollar is down also against European rivals. First spike, let’s give the market some minutes to digest the idea.

GBP/USD technical perspective

Posted: 19 Aug 2010 05:01 AM PDT

Since mid past week, both Euro and Pound are moving in a choppy quite limited range. Hourly chart shows the parameters are 1.5680 area, 200 EMA in the hourly chart, while the base is 1.5500, where price has rebounded strongly up both times it tested it. Being the last days of August, beware of false breakouts. There are many and variated these days across the board. Above 1.5710, I would consider the range groken to the upside, with the pair aiming to reach strong resistance zone around 1.5770; supports now come at 1.5610, from where the pair could fall again towards 1.5550/70 area. We need to see the price at least under 1.5480 to consider a break to the downside and further falls these last 2 days of the week.

Best pair to trade now: AUD/USD

Posted: 19 Aug 2010 04:19 AM PDT

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-08-19.v02.html

Majors’ sentiment for today

Posted: 19 Aug 2010 04:18 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Slightly Bullish

Gbp/Usd:Bullish

Usd/Chf: Bearish

Usd/Jpy: Neutral

Eur/Gbp:Neutral

Eur/Jpy: Slightly Bullish

Gbp/Jpy: Slightly Bullish

Starting the day

Posted: 19 Aug 2010 04:16 AM PDT

Hi everyone, and welcome back to this blog. After a dollar bullish Asian session, risk appetite is back in the European morning: stocks are up, US futures also, while early data was quite positive: German PPI come out better than expected, while UK Retail Sales rose an impressive 1.1%. Dollar is down across the board, with again Swissy and Cad leading the strength, close to past week lows. Euro and Pound, are trapped still in past days range, lacking real strength.

Yen strength ceded as jawboning in Japan is increasing strongly. Watching forex movements, thinking of stimulus, is keeping the pair above 85.45 immediate support, yet despite raising stocks, pair is unable to run up. There is a daily descendant trend line around 86.10, I believe above that level, we could see some further upside momentum, still not clear.

Here is the link for today's calendar:

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

Have a great day!