The Advisor Weblog

Hourly perspective for US session
Again is gold
Best pair to trade now: EUR/USD
Majors’ sentiment for today
Starting the day

Hourly perspective for US session

Posted: 22 Oct 2010 06:35 AM PDT

Here is the hourly perspective for the US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-10-22.v02.html

Stock are down, gold retreating from $ 1330 zone, beware of those today

Again is gold

Posted: 22 Oct 2010 06:05 AM PDT

Gold is again leading the way in forex market, rising strongly over the past 2 hours, sending dollar lower across the board; still dollar seems to be giving some battle, as majors did not break yet higher; however seems it won’t take long to see another bearish run in dollar.

Best pair to trade now: EUR/USD

Posted: 22 Oct 2010 04:05 AM PDT

Pair has a short term H&S figure, of @200 pips.. pretty interesting if confirmed; here is the detail:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-10-22.html

Majors’ sentiment for today

Posted: 22 Oct 2010 04:03 AM PDT

Here is the majors’ sentiment for today:

Eur/Usd: Slightly Bearish

Gbp/Usd: Bearish

Usd/Chf: Bullish

Usd/Jpy: Neutral

Eur/Gbp: Slightly Bearish

Eur/Jpy: Neutral

Gbp/Jpy: Slightly Bearish

Starting the day

Posted: 22 Oct 2010 03:32 AM PDT

Hi everyone and welcome back! Third day in a row that market posted extreme volatility and wide ranges, with gold leading the way during past American session: the metal fell below 1.330, a 38.2% retracement of last bullish run, and continues giving up ground, favoring greenback. Here is the chart:

As comment early this week, this was meant to be a corrective week, just I would not expect it to be so wild, and so strong the fight in between buyers and sellers; despite dollar could continue gaining ground, and I see high chances now against AUD, GBP and CHF, movement is still corrective. Greenback is far from recovering its strength, with QE around the corner; still if QE is not announced in the upcoming November meeting, history could change; we will see once we are there.

Here is the link for today's calendar:

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

Have a great day!