The Advisor Weblog

Hourly perpsective for US session
Best pair to trade now: GBP/USD
Majors’ sentiment for today
EUR/USD testing 1.3160 area
Starting the day

Hourly perpsective for US session

Posted: 17 Sep 2010 06:27 AM PDT

Here is the hourly perspective for the US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-09-17.v03.html

Best pair to trade now: GBP/USD

Posted: 17 Sep 2010 03:21 AM PDT

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-09-17.v03.html

Majors’ sentiment for today

Posted: 17 Sep 2010 01:52 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Bullish

Usd/Chf: Slighlty Bearish

Usd/Jpy: Neutral

Eur/Gbp: Slightly Bullish

Eur/Jpy: Bullish

Gbp/Jpy: Bullish

EUR/USD testing 1.3160 area

Posted: 17 Sep 2010 01:49 AM PDT

Eur/Usd, continues posting gains having reached 1.3160, the 76.4% retracement of the 1.3330/1.2580 rally, and ready to resume its bullish trend, mid term talking and as ling as above 1.3050, 61.8% of the same rally. 4hours chart show momentum still bullish yet RSI in overbought territory, with no other sign of correcting or reversing. Hourly indicators had also reached overbought territory, so par could consolidate or correct from here, before attempting to overcome the level. 1.3110/20 is immediate support, followed by the 1.3090 area, and mentioned 1.3050. Consolidation above 1.3160, will see next resistances at 1.3200 and 1.3240.

Starting the day

Posted: 17 Sep 2010 01:34 AM PDT

Hi everyone and welcome back! Despite Friday, little or no chances of seeing risk aversion rallies today: market is comfortable going against the dollar, more with gold that continues setting fresh all time highs on daily basis. The metal rose to $ 1282.90 so far today, and remains quite close to the level, seems we have not seen the top today. Commodity currencies are as usual the more benefited, with AUD/USD at a fresh 2-year high at 0.9468 and holding nearby, and USD/CAD aiming to break under 1.0200.

Before jumping to European majors in next post, one word about Yen: Intervention distorts technical analysis, and the usual behavior in any currency pair. However, USD/JPY seems unable to move above 86.00. Pair has been trying and failing to break above for the last 24 hours; that usually means the pair has found a top, and is ready for a downside correction. Add to that, Friday’s profit taking, and Japan’s markets closed next Monday due to a holiday. Unless clear gains above 86.10, I would expect the pair to lose some ground, yet 85.00/20 should hold the downside.

Anyway, here is the link for today’s calendar:

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

Have a great day!