The Advisor Weblog

Indian Rupee and Hong Kong Dollar
Hourly perspective for US session
Majors’ sentiment for today
Starting the day

Posted: 29 Nov 2010 02:21 PM PST

Market attention continues focused in Europe, with Spanish bonds sharing the limelight with Italian ones, both showing soaring yields; meanwhile Greece Finance Minister George Papaconstantinou announced Monday that the country is likely to get an extension for the repayment of its EUR110 billion bailout, with a 4 years grace period and then seven years to repay all the 110 billion euros, in line with the repayment terms of the Irish bailout.

EUR/INR finally broke the daily ascendant trend line coming from June low at 60.45 and extended its slide to 59.80 price zone; currently around 60.12, bearish euro rally looks overextended, suggesting some bullish corrective movements before a new leg down in the cross. Wall Street posted a late recovery from intraday lows, closing barely down, and favoring some improvement in risk sentiment, that should favor such corrections; still the upside should remain limited today by 60.65, where the pair shows 20 SMA in the 4 hours chart, along with the broken trend line. Gains are unlikely to extend yet on contrary, breach of mentioned daily low, should signal a continuation rally towards the 59.00 price zone.

USD/HKD rose to October high at 7.7659 holding a quite bullish tone in the daily chart, although exhausted according to 4 hours one; 20 SMA guides the rally, with an almost vertical slope, now strong support around 7.7614. Break above 7.7659 high, should support further gains in the cross, with next resistances at 7.7680 and 7.7710 price zone. Supports, below 7.7614, are located 7.7585 and 7.7550.

Hourly perspective for US session

Posted: 29 Nov 2010 06:33 AM PST

Here is the hourly perspective for US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010/11/29/03/

Majors’ sentiment for today

Posted: 29 Nov 2010 04:25 AM PST

Majors’ sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Bearish

Usd/Chf: Slightly Bullish

Usd/Jpy: Slightly Bullish

Eur/Gbp: Bearish

Eur/Jpy: Bearish

Gbp/Jpy: Neutral

Starting the day

Posted: 29 Nov 2010 04:21 AM PST

Hi everyone and welcome back! Another week, another euro lose. Despite Asian session saw the common currency opening higher against major rivals, relief over Irish bailout was not able to ease the bearish pressure, and the common currency is back down, hitting fresh monthly lows below 1.3160. Stocks are down, and so do gold, favoring a risk aversion environment that favors dollar, and swissy across the board. Starting the first week of the month, with Central Banks and Payrolls included, not much data is expected for the upcoming hours, but in Canada; still that data will hardly affect the trend. GBP/USD holds below 1.5600, with 1.5560 daily low as key support, while AUD/USD failed to regain 0.9660 strong area, and aims to break below 0.9600. I won’t be paying too much attention to USD/JPY unless daily close well above 84.30 price zone, where the cross has the daily 100 MA. Anyway, will start taking a look at technicals, ahead of US opening, yet risk no doubts, is in charge.

Here is the link for todays' calendar:

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

Have a great day!