The Advisor Weblog

Hourly perspective for US session
EUR/USD technical perspective
Majors’ sentiment for today
Starting the post FOMC day

Hourly perspective for US session

Posted: 22 Sep 2010 06:36 AM PDT

Here is the hourly perspective updated for majors:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-09-22.v02.html

EUR/USD technical perspective

Posted: 22 Sep 2010 03:14 AM PDT

EUR/USD quotes around 1.3380, having extended gains above 1.3333, past August monthly high and immediate support. 4 hours chart is showing indicators exhausted to the upside, yet pair has a bit more room to go, towards 1.3420 price zone, before a correction begins. We have several daily and weekly high around there, and at this point, I won’t be expecting the pair to extend gains too much further than that point today, without at list a short lived corrective movement. If however, 1.3400 holds, 1.3460 is next and probable top for today. From current levels, lose of 1.3360 should send the pair to test that 1.3330, followed later by 1.3280/1.3300 price zone, yet not much more, unless market all of a sudden, remembers the euro zone sovereign debt issues. Still things have to be really, really bad, to made the pair lose that level today, something quite unlikely if you ask me.

Majors’ sentiment for today

Posted: 22 Sep 2010 03:05 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Slightly Bullish

Usd/Chf: Bearish

Usd/Jpy: Bearish

Eur/Gbp: Bullish

Eur/Jpy: Bullish

Gbp/Jpy: Slightly Bearish

Starting the post FOMC day

Posted: 22 Sep 2010 03:01 AM PDT

Hi everyone and welcome back! And here we are in the post FOMC era: dollar is down across the board, with Euro already above past August high , and gold flirting with $ 1300/oz. As comment early September, this month trends where meant to set, and there is not much place for doubts right now.

Despite FED did not actually announced QE, in fact not only left the doors open for it, but statement was extremely dovish and US economy is still depressed. A couple of warnings: Pound is among the weaker currencies, as per self issues: we have been more than a month getting very negative fundamental readings, so GBP/USD remains in past months range lacking strength… YET.

The other warning is our friend JPY: back approaching to key 84.40 area, Prime Minister Kan, said past Asian session that intervention is unavoidable if the currency extends gains. I won’t be placing too much hope in further falls there right now. Risk/reward ratio is no good.

Anyway I will post Euro technical perspective right away, so here is the link for today’s calendar:

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

Have a great day!