The Advisor Weblog |
- Singapore Dollar and Hong Kong Dollar
- Hourly perspective for US session
- Best pair to trade now: EUR/USD
- Majors’ sentiment for today
- Starting the day
| Singapore Dollar and Hong Kong Dollar Posted: 09 Dec 2010 01:47 PM PST More and more ranges, market is thin and nothing we can do about that, but maybe start enjoying Christmas season USD/SGD quotes around 1.3094, lower in range, sitting just above the 20 SMA in the 4 hours chart, and with momentum heading lower yet still above its midline. Slightly bearish in early Asia, range is limited by 1.3000/ 1.3184 weekly high. Immediate support comes at 1.3070 area, followed them by 1.3035 and mentioned 1.3000 price zone, while resistances, come at 1.3130, and mentioned high at 1.3184. USD/HDK run strongly higher today, as the pair reach a fresh 3-month high at 7.7744 with price quoting barely below it and showing a strong bullish momentum, as rumors of rate hikes in China favored the US currency against several Asian rivals; still some overbought conditions are seen in the 4 hours chart, suggesting some bearish corrective movement ahead, that will find immediate support around 7.7695; bounce from this level back up, should support a bullish continuation rally, while lose of mentioned support should extend the downside towards 7.7650 price zone. Above 7.7744 intraday high, resistances come ay 7.7765 and 7.7795/7.7810 price zone.
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| Hourly perspective for US session Posted: 09 Dec 2010 06:36 AM PST Here is the hourly perspective for US session:
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| Best pair to trade now: EUR/USD Posted: 09 Dec 2010 04:18 AM PST Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010/12/09/
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| Posted: 09 Dec 2010 03:50 AM PST Majors’ sentiment for today: Eur/Usd: Slightly Bearish Gbp/Usd: Slightly Bullish Usd/Chf: Neutral Usd/Jpy: Slightly Bullish Eur/Gbp: Neutral Eur/Jpy: Slightly Bullish Gbp/Jpy: Slightly Bearish
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| Posted: 09 Dec 2010 03:47 AM PST Hi everyone and welcome back! Sorry for the lack of post lately, it’s really beyond my actual strength, but well, I’m back and hopefully, will stay since now on. As comment earlier this month, again the key market factor is the lack of volumeand trend we are living ahead of years’ end holidays, and I know for many short term traders like me, movements are a bit discouraging. Still, we can adjust ourselves to this and just need a bit more patient, as despite slow, some direction is seen: Euro remains weak, Pound a bit more strong, and yen downside momentum prevails. Look for those combinations over the upcoming hours, and don’t forget aussie if stocks and commodities continue falling. Tight now, we are having BOE economic policy meeting yet honestly, I would expect it to be a non-event. Unless they shock markets with an unexpected decision, will pass along. Anyway, stay toned, just in case! Here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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