The Advisor Weblog

Hourly perspective for US session
Best pair to trade now: EUR/USD
Majors’ sentiment for today
Starting the day

Hourly perspective for US session

Posted: 24 Aug 2010 06:47 AM PDT

Here is the hourly perspective updated for the US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-08-24.v03.html

Best pair to trade now: EUR/USD

Posted: 24 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/2010-08-24.html

Majors’ sentiment for today

Posted: 24 Aug 2010 04:42 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Bearish

Usd/Chf: Bullish

Usd/Jpy: Bearish

Eur/Gbp: Neutral/Slightyl Bullish

Eur/Jpy: Bearish

Gbp/Jpy: Bearish

Starting the day

Posted: 24 Aug 2010 04:40 AM PDT

Hi everyone and welcome back! As usual, Monday has been a quite choppy day that followed past Friday’s trend; however, Tuesday turned to be more interesting, and of course Japanese Yen is the star: as we comment of past Asian Live Wrap Up Webinar, Usd/Jpybreak off previous low only triggered another round of sell off towards the 84.00 area. And whole Japanese authorities continue jawboning, the yen continues rising across the board, setting multi months, or multi year highs against any other currency. Eur/Jpy quotes around 106.20, levels last seen in September 2001, while Usd/Jpy well, fresh 15 years one, and no signs of giving up right now.

The Euro, tested 1.2600, 50% retracement of 1.1870/1.3330, and despite some upside corrective movement seen right now, pair remains strongly bearish: a break of that low should signal a continuation rally towards 1.2460/70 zone. Why is Euro falling? is Euro weaker than greenback? I don’t think so, yet I do believe both are in the bottom of the scale: they are weakest currencies across the board right now, and will be a rough battle; I was reading a very interesting article about euro in bloomberg, here is the link:

http://www.bloomberg.com/news/2010-08-24/stiglitz-says-government-cuts-set-to-push-europe-into-double-dip-recession.html

Anyway, we have some fundamental news coming up, so here is the link for today’s calendar:

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

Have a great day!