Tuesday, November 2, 2010

The Advisor Weblog

The Advisor Weblog

Hourly perspective for the US session

Posted: 02 Nov 2010 06:37 AM PDT

Best pair to trade now:GBP/USD

Posted: 02 Nov 2010 03:13 AM PDT

Live webinar: technical education

Posted: 02 Nov 2010 02:55 AM PDT

Here is the link to the latest recorded webinar, in case you missed it:

http://www.fxstreet.com/webinars/sessions/session.aspx?id=790aee59-d7d7-4d4a-9e42-0fa370e00d45

EUR/USD testing roof of the channel

Posted: 02 Nov 2010 02:37 AM PDT

EUR/USD is quickly approaching to the roof of the channel around 1.4000, with indicators showing a strong bullish momentum both in 1 and 4 hours charts, and no signs of exhaustion; a break above yesterday’s high @ 1.4010 should signal a  continuation rally towards 1.4060-

Majors’ sentiment for today

Posted: 02 Nov 2010 02:17 AM PDT

Here is majors’ sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Slightly Bullish

Usd/Chf: Bearish

Usd/Jpy: Neutral

Eur/Gbp: Bullish

Eur/Jpy: Bullish

Gbp/Jpy: Bullish

Starting the day

Posted: 02 Nov 2010 02:10 AM PDT

Hi everyone and welcome back! Countdown has already started, and dollar is back under pressure since early Tuesday, after RBA increased its benchmark interest rate to 4.75% on concern stronger growth will cause inflation to accelerate, driving aussie to parity against greenback. The cross consolidates nearby, suggesting further upside pressure is yet to be seen.  India’s central bank also raised interest rates for a sixth time this year taking ot to 6.25%; and while FED is talking about QE, one should not wonder about dollar weakness and bearish trend no more.

A couple of minutes ago, Euro zone Final PMI was revised upwards, reaching 54.6 and giving another boost to market against greenback: gold approaches $ 1360/oz, EUR/USD is back above 1.3970, while even USD/CHF come under pressure and approaches key 0.9840 support; Pound has been quiet limited by 1.6100, while commodity currencies seem to be the overall winners and are ready to extend gains. Congressional elections are taking place in the US, and results ahead of FED decision, could impact market later today. Anyway, here is the link for today’s calendar, while I begin with the technical outlook:

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

Have a great day!
Posted by at 5:22 PM

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