The Advisor Weblog

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

Posted: 21 Oct 2010 01:33 PM PDT

Despite strong recovery across the board, dollar managed to post limited gains this Thursday against SGD, as the pair was unable to overcome the 1.3020/30 static resistance area, quoting barely below the level ahead of Asia opening. 4 hours chart shows the pair remains below 20 SMA while momentum is still heading south below the 100 level, thus losing strength in that direction. Pair will need now to overcome mentioned static resistance area, where we also found the 20 SMA, to extend gains towards the 1.3050 price zone, ahead of 1.3080; as yesterday, supports lie at 1.2990, 1.2965 and 1.2930 price zone.
EUR/SGD lost some ground today, thus range persist in the cross, with 20 SMA flat in the 4 hours chart and momentum hovering around 100 level, lacking clear direction right now. Pair rose to 1.8207 before losing over 100 pips, to current levels just below 1.8100. Supports for the next hours come at 1.8060, 1.8034 and finally 1.7980 strong support zone, and base of past day’s range. Resistances now are located at 1.8120, 1.8160 and the 1.8200 area.

Hourly perspective for US session

Posted: 21 Oct 2010 06:30 AM PDT

Here is the hourly perspective for US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-10-21.v02.html

Best pair to trade now: GBP/USD

Posted: 21 Oct 2010 03:33 AM PDT

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-10-21.html

Majors’ sentiment for today

Posted: 21 Oct 2010 02:34 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Slightly Bearish

Usd/Chf: Neutral

Usd/Jpy: Bearish

Eur/Gbp: Bullish

Eur/Jpy: Bullish

Gbp/Jpy: Bearish

Starting the day

Posted: 21 Oct 2010 02:32 AM PDT

Hi everyone, and welcome back! Greenback resumed its bearish trend yesterday, erasing most of past Tuesday gains in a blink. Stocks had been the main driver of the movement, as S&P was just a couple of points shy of the monthly high, already overcome now. Gold and Oil also regained some ground, with risk appetite in full shape; Euro and Aussie continue to be the overall winners, and despite some bearish corrections in Asia, both regained the upside with European opening: indexes are strongly up, with DAX at a fresh 2 years high.

EUR/USD regained 1.4000, having tested 1.4050 resistance zone, with 1.4100 as next intraday bullish target, while Pound was hit again by worse than expected data, this time a strong fall in Retail Sales, that kept GBP7USD just below 1.5800. USD/JPY continues its endless fall, with the pair challenging 80.80 support zone; seems pair is determinate to test the all time low around 79.75.

Again, selling the poor greenback seems to be the best chance across the board, so let’s find the levels.

Here is the link for today's calendar:

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

Have a great day!