The Advisor Weblog

Hourly perspective for US session
USD/JPY pressured to the downside
GBP/USD: Technical points
Majors’ sentiment for today
Starting the day

Hourly perspective for US session

Posted: 28 Sep 2010 06:40 AM PDT

Here is the hourly perspective for US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-09-28.v02.html

USD/JPY pressured to the downside

Posted: 28 Sep 2010 05:49 AM PDT

After intervention, pair is back under pressure. Apart from dollar weakness, the fact is that this September 30th is half fiscal year in Japan, and that should favor last minute yen buying in Japan. Despite in ranges, yen crosses had a bearish tone for these days. Technically, pair is just above the 61.8% retracement of the 82.87/85.94 rally at 84.05, with indicators heading south supporting the downside for today. Only above 84.45 static resistance area and 50% retracement of the same rally could revert short term bias. Another factor that favors the downside in this cross, is the COT report: it shows that most of retail traders are long in the cross, and the herds are usually wrong: as higher the % of longs, as higher the chances of further falls. Whether BOJ will intervene and at what level, that’s something I can’t confirm. Still don’t expect the pair to lose easily 83.00 price zone.

GBP/USD: Technical points

Posted: 28 Sep 2010 05:28 AM PDT

Here is GBP/USD updated for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-09-28.html

Majors’ sentiment for today

Posted: 28 Sep 2010 05:02 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Neutral

Gbp/Usd: Bullish

Usd/Chf: Slightly Bullish

Usd/Jpy: Bearish

Eur/Gbp: Bearish

Eur/Jpy: Neutral

Gbp/Jpy: Neutral

Starting the day

Posted: 28 Sep 2010 05:01 AM PDT

Hi everyone, and welcome back. Dollar has come back under pressure since early European morning, despite mood is mixed today in market: both euro zone and the UK data was quite encouraging, favoring both currencies against dollar; however, Pound continues printing fresh highs, while Euro can’t overcome yet the 1.3500 level. Stocks are barely unchanged in Europe yet mostly positive, while US futures are slightly down right now. Not much definitions yet across the board, thus dollar seems ready to start a bullish corrective movement, more interesting maybe than what we see early week. If so, I would expect Pound falls to be a bit more limited.

Anyway! we have some fundamental data today, so here is the link for today’s calendar:

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

Have a great day!