The Advisor Weblog

EUR/USD technical perspective

Posted: 11 Oct 2010 04:25 AM PDT

Here is the EUR/USD technical perspective updated:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-10-11.html

Starting the day

Posted: 11 Oct 2010 04:22 AM PDT

Hi everyone and welcome back! Holiday’s around the world are keeping markets quite limited this Monday, with dollar still pressured near the lows set past week; some dollar gains had been triggered by risk aversion, after China decided to raise the deposit reserve requirement for the country’s big four state-owned lenders and two other commercial banks, by 50 basis point that could affect the country growth.

Over the weekend, G7 meeting resulted as usual, failing to produce an agreement on international currency movements, with policy makers coming with the already known warning that “excessive and disorderly foreign exchange movements are undesirable” and that “currency moves should reflect economic fundamentals.” As a consequence, USD/JPY fell to 81.40 area and remains capped by 82.00. Will the BOJ take action? Well, at least PM Noda said that the US secretary Geithner did not complained about previous ones, opening doors for such movement. Still, at this point, I believe is a very bad idea to buy the cross just relaying on intervention. But is just my idea of course.

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!