The Advisor Weblog |
| Posted: 08 Dec 2010 01:50 PM PST Market had another choppy day, with dollar mixed across the board, as stocks rose yet gold stayed most of the day well below $ 1400/oz mark, closing the day around $ 1380. Yields come slightly lower today, yet not enough to beat Japanese yen bearish momentum, against greenback. USD/SGD managed to extend gains to the 1.3184 intraday, high, losing momentum mid American session and retreating to current 1.3130 price zone. Still intraday positive, lack of volume is favoring range trade and slow movements, with 4 hours indicators losing yesterday’s bullish strength and heading lower, still above their midlines. 20 SMA in the same time frame lies around 1.3065, so break below this level, should confirm more falls towards 1.3035 support. However, pair will find first some support around 1.3100 static support area. Resistances today, lie at mentioned 1.3184 intraday high followed later by 1.3200/20 price zone.
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