The Advisor Weblog

Singapore Dollar
Hourly perspective updated for US session
Majors’ sentiment for today
Starting the day

Posted: 26 Oct 2010 02:11 PM PDT

Sorry for missing yesterday’s post; my conection refused to act Here is today perspective for the currency:

EUR/SGD continues losing ground after breaking below get 1.7980 area, now immediate resistance; the level, that has been the base of past month consolidative range, is also the 23.6% retracement of the daily rally 1.6940/1.8300; 4 hours chart holds the bearish tone, with momentum heading south below its midline, and 20 SMA acting ad dynamic resistance. The moving average is also tending lower, supporting the bias, although a stronger bearish slope will confirm the midterm rally; as expected on previous update, pair found support around 1.7920, and bounced slightly higher, yet as long as below 1.7980, bias will remain to the downside. Below 1.7920, immediate supports come at 1.7890, followed later by 1.7840 price zone. Stronger support is seen at the 1.7775 area, 38.2% retracement of the mentioned rally. To The upside, above 1.7980, resistances come at 1.8120, 1.8160 and the 1.8200 area.

Regarding USD/SGD, dollar recovery was not yet enough to push the pair back above 1.3000; still weak, 4 hours charts have a slightly bullish tone with momentum heading higher but price still close to a slightly bearish 20 SMA; pair seems to have formed a double bottom around 1.2880/90 lows, with the neck line around 1.3160, so that level will be key to determinate a stronger recovery in the greenback. For today, pair needs to at least open a candle above 1.2970, to extend the upside towards 1.3010 price zone, with next resistances at 1.3050 and 1.3080; lose of 1.2930 should put the cross back under pressure, with 1.2885 as first support ahead of 1.2830/40 projected price zone.

Hourly perspective updated for US session

Posted: 26 Oct 2010 06:44 AM PDT

Here is the hourly perspective updated for US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-10-26.v02.html

Gold is again leading the way; watch $ 1315 low, that is next in dollar recover

Majors’ sentiment for today

Posted: 26 Oct 2010 05:00 AM PDT

Here is majors’ sentiment for today:

Eur/Usd: Slightly Bearish

Gbp/Usd: Bullish

Usd/Chf: Bullish

Usd/Jpy: Slightly Bullish

Eur/Gbp: Bearish

Eur/Jpy: Bullish

Gbp/Jpy: Bullish

Starting the day

Posted: 26 Oct 2010 04:33 AM PDT

Hi everyone, and welcome to this blog. Monday left to Euro buyers a bitter taste in their mouthas the common currency again failed to stay above 1.4000; gold attempt to recovery, and positive start in stocks this week is gone, and again we have gold approaching $ 1330/oz, strong support. Will be following that level, as if it gives up, both AUD and CHF should extend slide against dollar.

USD/JPY has regained the 81.00 price zone, should face next strong resistance around 81.50/65, if gold slumps, this one will probably also rise. I was seeing Pound bearish, and honestly did not expected the GBP/USD to reach this area; better than expected GDP has pushed it higher yet, watch the 1.5830 support: below it, 1.5770 comes next. EUR/USD seems a bit reluctant right now, consolidating in between 1.3890 strong support and 1.3960/70 area; clear break either side will define the day.

Here is the link for today’s calendar:

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

Have a great day!