The Advisor Weblog

Hourly perspective for US session
Gold, China and Dollar
Best pair to trade now: GBP/USD
Majors’ sentiment for today
Starting the day

Hourly perspective for US session

Posted: 19 Oct 2010 06:50 AM PDT

Here is the hourly perspective updated for current US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-10-19.v02.html

Gold, China and Dollar

Posted: 19 Oct 2010 04:36 AM PDT

Dollar is accelerating higher across the board, with gold losing ground steadily, over $ 12 in the last hour, while China rose its benchmark deposit lending by 0.25 bps. Watch this levels:

EUR/USD 1.3870

GBP/USD 1.5750

USD/JPY 81.65

USD/CHF 0.9630

AUD/USD 0.9770

USD/CAD 1.0260 (Canada will announce rates later today, so maybe the less accurate choice right now)

Best pair to trade now: GBP/USD

Posted: 19 Oct 2010 03:37 AM PDT

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-10-19.v02.html

Majors’ sentiment for today

Posted: 19 Oct 2010 02:55 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Slightly Bearish

Gbp/Usd: Bearish

Usd/Chf: Neutral

Usd/Jpy: Slightly Bullish

Eur/Gbp: Bullish

Eur/Jpy: Neutral

Gbp/Jpy: Bearish

Starting the day

Posted: 19 Oct 2010 02:53 AM PDT

Hi everyone and welcome back! Quite interesting start of the week, with Euro sinking to 1.3840 only to recover back to 1.4000; seems buyers are not yet ready to give up with the common currency, thus I still see dollar set to post some gains across the board this week, as comment yesterday.

Early euro zone data is not much encouraging, as current account deficit widened to 7.5B, while the ZEW survey come out mixed, with German economic sentiment deteriorating, thus euro zone one improving as well as current situation in Germany.

During past Asian session, Japan government cuted economic assessment, stating that both exports and industrial output is weakening, while more jawboning about yen strength harming economy was made. Still USD/JPY sits in a very tight range around 81.30, unable to pick up. Gold strength is no doubts one of the main factors that keep the pair there, some gold weakness, could favor the upside thus still seen limited at 81.65, neck of the double floor set on daily chart: if above, well, we could see the pair approaching 82.00/20.

GBP/USD stays at daily lows approaching 1.5800 level, and with a clear bearish tone: 1.5750/60 area will be key, as a daily close below that level, should support further falls in the cross towards 1.55 price zone.

We have a lot of fundamental data today, so here is the link for today's calendar:

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

Have a great day!