The Advisor Weblog

Hourly perspective for US session
Best pair to trade now: EUR/USD
US data disappoints again
Starting the day

Hourly perspective for US session

Posted: 14 Oct 2010 06:51 AM PDT

Here is the hourly perspective updated for the US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-10-14.v02.html

Best pair to trade now: EUR/USD

Posted: 14 Oct 2010 05:48 AM PDT

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-10-14.html

US data disappoints again

Posted: 14 Oct 2010 05:45 AM PDT

US data disappoints again with Trade Balance showing more deficit, 46.4B against 42.8B previous month, and unemployment claims rising to 462K. Stocks are slightly down yet if market understands this as even more chances of QE in the US (which indeed is), dollar should extend the fall.

Starting the day

Posted: 14 Oct 2010 05:11 AM PDT

Hi everyone and welcome back! Dollar was hit again across the board again, nothing new under the sun: Asian share markets follow their overseas partners, triggering further greenback slides. I was watching our “falling knife” USD/JPY: 80.00 should be a strong level, and where BOJ should draw the line in the sand; however, if we lose this level, sell off will probably accelerate and send the pair another 300/400 pips lower, before own exhaustion finally draws a bottom in there. No time yet to aim for a counter trade there.

EUR/USD reached 1.4100 and remains quite close, with 1.4250 as next strong bullish target for the cross, ehile GBP/USD finally overcomed 1.6000, thus still has a hard road ahead to rise strongly.

We have US data right now! Here is the calendar, I will post some updates after it:

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

Have a great day!