The Advisor Weblog |
| Indian Rupee and Singapore Dollar Posted: 11 Nov 2010 01:27 PM PST Greenback has made a fairly significant move these Thursday while Euro extended its slide despite quite thin market conditions, as both US and Canada were on holidays. Among majors’ crosses, the dollar posted gains even against Pound that has been holding a positive tone since last BOE Minutes, while even commodity currencies gave up some ground despite gold held steady above the $ 1400/oz price zone. EUR/INR extended its slide, printing an intraday low around 60.20, with 4 hours chart still bearish: momentum is heading south while price develops below a strongly bearish 20 SMA that has keeps the upside limited since early this week. Quoting around 60.70, supports for current Asian session are located at 60.40 the 60.10 price zone and later 59.70; resistances on contrary, lie at 61.00, 61.40 and the 61.70 price zone. EUR/SGD hit a fresh 7-week low today at 1.7565 and ended the day below the 50% retracement of the bullish run from 1.6940 to 1.8300, around 1.7620 and immediate resistance area Still bearish, pair remains quite close to mentioned intraday low, suggesting further falls could be seen; lose of 1.7565 will see next supports at the 1.7520 area, followed then by 1.7460, 61.8% of the mentioned rally. Resistances, above 1.7620 are located at 1.7670 and 1.7740 price zone. USD/SGD close the day up, posting limited gains as the pair has traded inside past Wednesday range. Still capped below daily 20 SMA, and with momentum turning back south in the mentioned time frame, pair is mostly range bound, with no much trend definition right now; 4 hours chart shows price hovering around a flat 20 SMA, confirming the lack of trend. As yesterday, pair will then need to accelerate above 1.2922, to gain a firmer bullish tone that could drive the pair back towards levels above 1.30. Immediate resistances come at mentioned 1.2922, followed by 1.2960 and 1.3000 price zone while supports are now located at 1.2860, 1.2830 and the 1.2800 level. USD/INR is a touch firmer today, quoting around 44.40 in early Asia, with a timid bullish tone according to 4 hours charts: momentum has crossed it midline downside up quite straight while current candle develops above 20 SMA; resistances come at 44.40 area, followed later by 44.65, while supports are now located at 44.10 area, followed then by 43.70 price zone.
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| Posted: 11 Nov 2010 02:22 AM PST Here is majors’ sentiment for today: Eur/Usd: Bearish Gbp/Usd: Slightly Bullish Usd/Chf: Neutral Usd/Jpy: Slightly Bullish Eur/Gbp: Bearish Eur/Jpy: Bearish Gbp/Jpy: Neutral
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| Posted: 11 Nov 2010 02:16 AM PST Hi everyone and welcome back! dollar lost momentum late past US session, in what was an extremely volatile Wednesday, particularly for EUR/USD: capped by 1.3820 area, pair sunk to 1.3670, only to come back to levels near 1.3800 by Asian opening. Stocks rising and positive commodities may have add to some risk appetite, yet since European opening seems the switch has turned: stocks are lower and dollar slightly higher. We have bank holiday today, both in the US and Canada, so no fundamental news to take care of, and probably loads of range. Have a great trading day!
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