The Advisor Weblog |
| Posted: 20 Dec 2010 01:26 PM PST Dollar ended the day mixed against major rivals, as despite stocks rose strongly with S&P reaching fresh yearly highs, nor Euro nor Pound managed to post gains against greenback; the weakness of the two European majors remains intact, and falls had been limited mostly on dollar weakness, although the bearish pressure remains intact.USD/SGD quotes around 1.3160, slightly bearish according to the 4 hours chart, yet finding support in a flat 20 SMA barely below current price. Lack of liquidity keeps increasing, be aware some strange spikes could be trigger over the next sessions, yet below 1.3140, pair should turn more bearish short term talking, aiming to test 1.3100 psychological level first, ahead of 1.3060/80 support area. resistances now, come at 1.3170 1.3210 and 1.3245. USD/HDK has lost past week strong bullish momentum, and retreated from 7.7800 price zone, also with a slightly bearish tone according to 4 hours chart: price is below 20 SMA while momentum broke 100 level, yet losing previous bearish strength. Pair will find some support now around 7.7715, but if this last gives up, 7.7660 area is next in line. Below this last, 7.7620 come next. Resistances for the upcoming hours are located at 7.7765, and the 7.7790/7.7800 price zone.
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