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: 27 Sep 2010 06:33 AM PDT Here is the hourly perspective updated for the US session:
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| Best pair to trade now: EUR/USD Posted: 27 Sep 2010 05:29 AM PDT Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-09-27.html
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| Posted: 27 Sep 2010 05:05 AM PDT Here is the majors’ sentiment for today: Eur/Usd: Slightly Bullish Gbp/Usd: Bullish Usd/Chf: Slightly Bearish Usd/Jpy: Bearish Eur/Gbp: Bearish Eur/Jpy: Bullish Gbp/Jpy: Bullish
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| Posted: 27 Sep 2010 05:00 AM PDT Hi everyone, and welcome back! Week started in slow motion with majors close to past Friday’s closing levels, and after some short lived corrective movements, crosses are back posting gains against dollar. Greenback weakness remains to be the main subject in market. Past Friday’s New Home Sales reading at record lows, indeed feed fears of QE in the US for the upcoming months. However, general election in the US on November 2nd, will likely weight on such decision: I won’t be expecting for QE this October, neither on November. And that should harm current dollar bearish euphoria; there are a couple of things, to take into account also: first one, Central Banks; we know BOJ is against yen strength, while SNB failed to weaken CHF after several attempts since March past year; with aussie nearing its all time high, I would expect RBA to also start worrying. That will made 3 central banks, wanting some dollar strength. Could they plan some coordinate action? Seems likely, not this week, but keep that in mind before happily sell greenbacks. The other thing, are the COT reports: market is extremely long in Euro, and that suggest we are close to a top and reversal, while the sovereign debt woes in the euro zone are far from solved; that will made 4 out 6 most traded majors, favoring some dollar strength. Anyway, non of those will happen today, just something to consider Short term talking, dollar remains under pressure, thus lack of volume today is keeping majors in range. We have no fundamental news today, so there are little chances to see strong breaks of these ranges, unless some non schedule fundamental movement hit the wires; will start taking a look at technicals then. Have a great trading day!
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