The Advisor Weblog

Hourly perspective for US session

Posted: 30 Aug 2010 06:36 AM PDT

Here is the hourly perspective for US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-08-30.html

Starting the day

Posted: 30 Aug 2010 03:51 AM PDT

Hi everyone, and welcome back! the optimism that market shown with Asian opening, disappeared with BOJ poor announcements after the emergency meeting: they expanded expanding a low interest loan program to JPY30 Trillion from the initial JPY20 Trillion, as expected, leaving rates unchanged,; news hardly shock markets and yen resumed its bullish trend across the board: USD/JPY is testing 84.70 support area, with some braves expecting intervention around 84.00. In my opinion, far still from being a good bet. EUR/JPY quotes around 107.60, having lost the 108.00 level, while GBP/JPY approaches to 131.00 area.

Riskier currencies, such as Euro, Pound, and Aussie lost momentum, and are under pressure, aiming lower in this thin volume European session (London is closed on holidays). Stocks markets are slightly losing ground, favoring some dollar gains right now, still lack of definitions persist. EUR/USD seems heading towards the 1.2660 area, while GBP/USD could test 1.5480/5500 zone.

We have a quite busy week from the fundamental side, so here is the link for todays’ calendar:

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

Have a great day!