Tuesday, October 12, 2010

The Advisor Weblog

The Advisor Weblog

Hourly perspective for US session

Posted: 12 Oct 2010 06:52 AM PDT

EUR/USD technical perspective

Posted: 12 Oct 2010 04:46 AM PDT

Majors’ sentiment for today

Posted: 12 Oct 2010 04:43 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Slightly Bearish

Gbp/Usd: Neutral

Usd/Chf: Bearish

Usd/Jpy: Bearish

Eur/Gbp: Slightly Bearish

Eur/Jpy: Bearish

Gbp/Jpy: Bearish

Starting the day

Posted: 12 Oct 2010 04:41 AM PDT

Hi everyone and welcome back! As comment early past Asian session, at the daily Wrap Up Webinar, euro triggered a bearish corrective movement, that reached the 1.3770 price zone. While stocks slump across the world and risk aversion comes back, only euro seems to be affected, as  the rest of the majors hold their strength against greenback. Euro downside movement has been corrective, and we are yet far from a trend change as long as around this  1.3800. Yet the break of the trend line, and the daily opening below the Fibonacci retracement at 1.3890, favor further downside corrective movements.  Pound remains unchanged at range, yet with a bearish predominant tone, as early data show a very disappointing Trade Balance in the UK; again macro data is keeping Pound limited.

Swiss Franc and Japanese Yen bullish trends are yet intact, more with current risk aversion: both currencies are approaching to recent highs against dollar, with no signs of reversing their trends yet. Gold strength that holds near $ 1350, keeps these two strong, and dollar weak.

We have however, FOMC Minutes later today, and that could again trigger fears of further QE in hte US, sending euro back up; still early to say, here is the link for today’s calendar:

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

Have a great day!
Posted by at 6:12 PM

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