The Advisor Weblog

Indian Ruppe
Hourly perspective for US session
Majors’ sentiment for today
Best pair to trade now: USD/CHF
Starting the day

Posted: 27 Oct 2010 01:55 PM PDT

Euro continued this Wednesday giving ground against all rivals, having fell to a fresh weekly low against Indian Rupee, around 60.89; barely above that level and hovering around 61.00, pair holds a bearish tone both in daily and 4 hours charts, suggesting further falls are yet to be seen. Daily chart is showing current candle opened and closing quite away from a 20 SMA that loses strength, while in 4 hours, indicators are giving signs of exhaustion; pair will probably consolidate or either trigger a short lived bullish corrective movement, before resuming its bearish tone, with immediate resistances at 61.35, 61.60 and the 62.00 price zone; daily chart also shows a double roof at the 62.35 area, which neckline lies around 60.50. Lose of this last, better if confirmed with a pullback, could trigger a @240 pips bearish continuation rally to accomplish the figure target. Supports for current session lie at mentioned daily low, 60.89, the neckline around 60.50, and 60.00 strong psychological level.
USD/INR on contrary has remained consolidating steady in past weeks range: the pair is consolidating in between 43.80 and 44.65 since early October, still flat in daily time frame, although slightly bullish in 4 hours chart: a short term ascendant trend line coming from mentioned low is guiding the movement, yet indicators remain flat around their midlines, suggesting no clear bias or strength; currently sitting around 44.30, pair will find supports at 44.10, mentioned trend line, followed then by 43.80 monthly low. Lose of this last should signal a bearish continuation rally towards 43.40, levels not seen since August 2008; resistances today, are located at 44.45, 44.65 and 44.90.

Hourly perspective for US session

Posted: 27 Oct 2010 06:53 AM PDT

Here is the hourly perspective for the US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-10-27.v02.html

Majors’ sentiment for today

Posted: 27 Oct 2010 04:48 AM PDT

Here is majors’ sentiment for today:Eur/Usd: Bearish

Gbp/Usd: Slightly Bearish

Usd/Chf: Bullish

Usd/Jpy: Slightly Bullish

Eur/Gbp: Bearish

Eur/Jpy: Neutral

Gbp/Jpy: Neutral

Best pair to trade now: USD/CHF

Posted: 27 Oct 2010 04:38 AM PDT

The bullish trend is much more clear in this one, than any bearish attempt in Euro, so this is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-10-27.html

Starting the day

Posted: 27 Oct 2010 04:36 AM PDT

Hi everyone and welcome back! Slowly but steadily, dollar continues gaining ground against most rivals; funny, Pound that has been among the weakest, is the only holding some tone against dollar after yesterday’s positive data in the UK. EUR/USD is below 1.3800,eith an intraday low near 1.3768; break below 1.3760 should trigger further selling, while AUD/USD again testing dangerously 0.9660 price zone. I will keep my attention focus again in those and CHF. Gold is back testinG $ 1330/oz, another level that will be key, for further dollar gains against mentioned currencies.

Anyway! here is the link for today’s calendat, while I start with some technicals right away:

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

Have a great day!